8 reasons you need car insurance

Four wheel drive car

With thousands of cars finding the way in and out of our busy highways, it is not a surprise that accidents do occur. The impact of accidents can be costly, more so when it involves bodily injuries. The best way to avoid all these unplanned expenses is by securing your car with insurance. Reliable car insurance will protect you from hefty fines and medical bills, aside from giving you peace of mind as a driver.

In some cases, car owners may be aware of the need for purchasing car insurance along with their car, but they might not always aware of the following points:

  • Insuring a vehicle is mandatory as per the Motor Vehicle Act, 1988
  • It needs to renew before the expiry date
  • You have the option of choosing the car insurance of choice, not what the car dealer suggests
  • There two insurance policy; third party liability and comprehensive policy.

Knowing the benefits of car insurance will help you to see the importance of insuring it, and help you leap maximum value from the insurance type and the coverage you opt for. While the main advantage of car insurance is the peace of mind it comes with, there are many other benefits for having you and your car protected.

1. Third-party liability cover

In a comprehensive insurance cover, all the associated car insurance policies are required by law to be covered. Any loss or damage caused by the insured car to a third party is usually included in this comprehensive insurance.

2. Car Accident

A car accident can be horrifying and devastating issues affecting you mentally, financially, and physically. Additional to third party liability policy, comprehensive car insurance also covers damages to your car, as well. Therefore, if your vehicle gets involved in an accident and already you have insured it with a better car insurance company, all the damages will be taken care of including the expenses that will be incurred while repairing the vehicle.

3. Car Theft

Just imagine parking your car in your favourite mall parking lot to do some shopping, and upon coming back only to find it missing! It can be a devastating experience. Wouldn’t it be? A comprehensive cover will cover even instances of car theft. After raising and settlement of the claim, your insurance provider should award you with vehicle’s Insured Declared Value (IDV).

4. Add-ons

A comprehensive plan allows you to sign up for additional covers. However, these covers can barely be purchased on their stands or with a third party liability policy. Add-ons are insurance covers that are designed to cover the exceptions of the primary insurance as well as offer personalization to your car insurance cover. Below are some of the add-ons cover you can register for:

Engine protection

Roadside assistance

Passenger cover

Return to invoice

Zero depreciation

5. Personal accident cover

Being in a car accident is terrible, and the worst experience is when you require medical care. Hopefully, it doesn’t happen, but it stills better when you are prepared for it. You want to be sure medical bills are covered since it can be too much beyond your financial abilities. Sometimes the damage cost can be affordable, but with car insurance, it saves you from paying them out of pocket. Some insurance will not only cover the driver alone but will include the passengers on their coverage.

6. Damages as a result of the fire

In case your car is damaged by fire, comprehensive car insurance will definitely cater to the total loss incurred. Fire due to self-ignition, lightning, and explosions are usually included in this plan.

7. Calamities

Due to climatic changes, cities have now become vulnerable than ever before to various disasters such as floods and earthquake. Nevertheless, calamities may as well be resulted by human nature such as riots. A comprehensive car policy will cover all damages that occur to your car.

8. Opportunity to have a courtesy car

Many car insurances offer courtesy cars to their clients during when their vehicle is in the garage for repair following an accident. The main reason for the courtesy car is to ensure you carry out your business as usual, while your car is being repaired. The availability of a courtesy car will vary depending on the agreement of your insurance policy.

Some Final Words

Before signing up for any insurance, ask your dealer whether the insurance covers all the above accidents. A comprehensive insurance policy may be more expensive compared to other standard coverages. However, comprehensive insurance will save your resources in case your car faces any accident.

After all, the reason for insurance is to give you relief from spending even a penny repairing your car damages. Therefore, look for the best deals to suit your needs and make sure at your very minimum, you have the basics covered.