Car insurance is mandatory by law and if you are planning to buy a car in India, you will either need to have a third party or a comprehensive car insurance scheme. When you buy car insurance online or offline, it offers a compensation as per your policy terms for any bodily damage or even death.
If you opt for a third party car insurance, it protects you and anyone else and property damage or anyone else (family member) when you drive a car. A third party car insurance is affordable to avail and you at least need this plan with the car purchase.
A comprehensive car insurance plan, on the other hand, protects you from any natural disasters or man-made disasters such as riots, cyclone, earthquake, terrorist attack and more.
Overall, a car insurance policy works as a friend in need at the time of crisis. No matter what kind of car insurance policy that you buy, it helps to cover the losses incurred during an accident and hence, saves you from paying huge money out of your pocket.
Benefits of buying car insurance
You are now aware of the features of the car insurance policy, so do you still need to know the benefits of it? Have a look!
- Financial liability protection
Can you afford to pay the damages that you may incur while meeting an uneventful accident? If you don’t have the financial capacity to do that, you need to have a car insurance policy. The biggest benefit of having a car insurance online policy is the protection that it offers in the form of financial assistance. Thus, even if you think you don’t need a car insurance policy, it is prudent to subscribe to at least a third-party policy.
- Freedom from paying medical costs
The cost of medical services including medicines have drastically gone up and can eat up your savings and other sources of money. You may also have to avail a loan to cover the medical bills and more. Thus, when you have subscribed to a car insurance policy online or offline, the pressure of paying medical bills is transferred to the insurer.
- Preparation for law needs
When you have a car insurance policy, it also keeps you off the legal liability that you will have on others and may require you to pay hugely. With a proper car insurance policy, you can shield yourself from paying legal costs arising out of an accident.
- Freedom from repair or replacement costs
Depending upon the severity of the car accident, your car may need repairs or parts replaced. When you have the coverage of a car insurance policy, you can easily pass on the burden of repair and replacement bills to the policy to take care. Somewhere, floods may also damage your vehicle and you should avail a policy as per the chances of a natural or man-made severity to avoid costs.
- Peace of mind
When you are fully aware that the car insurance policy will take care of all financial and legal compulsion of an unexpected accident, you can relax and live worry-free. You can enjoy and have a peaceful time as far as the financial blues are concerned.
The Bottom Line
With so many benefits when you buy car insurance policy online available, why not go ahead and avail a policy as per your needs and budget and live stress-free? You can apply for an online policy such as Bajaj car insurance and get going!
