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Having a car increases the mobility and decreases the dependency on public transport, but driving a car in the Indian road is quite a task. By just being careful, you cannot keep accidents and mishaps at bay. The safety of the vehicle, driver and the passengers depend strictly on the behaviour of other drivers on the road as well. While buying a car can be a wise decision, hitting the roads without insurance is a huge risk.

So, insurance is not only a legal liability, but it is an essential financial security. Driving on the roads has its perils, and this is the reason why motor insurance is significant for every Indian. Today we bring forth a list of reasons that enforce the fact as to why motor insurance is necessary for every Indian:

  • Motor Insurance reduces liability: A third party liability car insurance coverage is mandatory in India. The TPL (third-party liability) covers you against any legal consequences that may come up due to an accident caused by you. If another person incurs a loss or damage to property caused by an accident for which you stand responsible, then having a valid insurance will pay for their damage, their treatment and save you from other legal proceedings. If you opt for comprehensive coverage, then you get the added protection against own damage as well.

 

  • Pay for hospitalisation: Not every accident ends with a few scratches and a broken knee. There may be cases when the damage is quite severe, and the victim needs to be hospitalised. Spending from our pockets for hospitalisation and treatment along with the legal problems would not be an easy job. If your vehicle has insurance, the insurer will pay for the overall expenses.

 

  • Compensation for your family after your demise: The most unfortunate incident that can happen is the policy owner’s death in a road accident. It can leave the whole family dismayed and shattered. Under such a situation, the motor insurance policy can help the family survive and sustain.

 

  • Motor insurance pays for damages: Not only are the cars expensive, the spare parts that come with it are also expensive. Damages can occur due to a plethora of reasons. A car colliding with yours, a broken rear view mirror due to a closely parked car, broken glass, a damaged engine or any of these problems can come to you at any point of time, and the expenses won’t be easy to handle. Owning a valid insurance will provide financial security against any such mishap.

 

  • Motor insurance at cheaper premiums: Today, most of the motor insurance companies provide online services. Buying motor insurance policy online results in lower premiums and the whole protection can come at a lower price.

  

To sign off

In all, a good motor insurance policy is a must have for protecting the safety of your loved ones. It not only provides financial assistance at the time of need but also lets you enjoy trouble-free driving on Indian roads.

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