Accidents and mishaps on roads are unfortunate events that might occur on roads. They can leave a tremendous lifetime burden if you are uninsured. Haste and negligence along with poor infrastructure and lack of safety practices make us at the risk of road accidents in India.
One may be a good driver but the risk of falling under someone else’s negligence cannot be ignored. It is always beneficial to have a car insurance to relieve the financial and mental stress. The Motor Vehicle’s Act, 1988 also mandates having a car insurance for every category of the motor vehicle including a third party insurance. A comprehensive motor insurance policy would cover your vehicle damages and also the damage to the occupants in your vehicle in case of an accident. It is mandated to keep the document in the vehicle at all times. A comprehensive motor insurance policy covers your liability for third-party damages and any vehicular damages that would have happened in case of an accident. The insurer would pay to repair or replace whichever would be required to reinstate your vehicle in good condition within the insured limit. It also protects the driver and the occupants of the vehicle for any personal injury sustained as a result of the accident. Considering these factors it is important that one must get a motor insurance policy for the motor vehicle.
Insurance covers much more than just collisions. These days a comprehensive policy may also include cover for geographical extension as well as the electronics in a car. One cannot predict what can happen in the future and therefore it is not only mandatory but also important to possess a car insurance in India.
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