Owning a car has become a necessity these days. It reduces the dependency on public conveyance. However, the unfortunate fact cannot be negated that the vehicle as well as the driver is prone to some perils. There are times when one gets involved in mishaps on road, sometimes due to his/her own negligence and sometimes because of the other driver. In order to overcome these, and stay safe from the legal ramifications, as well as relevant expenses, one needs to get his/her car insured after buying it.
Here is a mention of 3 reasons that make buying motor insurance important:
- Motor insurance pays for the damages
One often has to pay a huge cost for the repairs, if the car gets damaged or involved in any unfortunate road mishap. The damage might be due to someone else’s mistake as well; nevertheless, in such situations, paying a heavy cost can become a real burden for you. In order to avoid these costs, having a car insurance is a must. When you have the insurance, you need not pay these bills from your pocket.
- It decreases the liability
According to the Motor Vehicles Act, having the Third Party Liability (TPL) car insurance has been mandated by government of India. This safeguards you from the legal actions which may occur after the road accidents. For instance, when a third party meets with an accident involving your vehicle, the insurance company will pay the expenses as well as protect you from the legal action, if any.
- It safeguards you from the hefty medical expenses
Well, in certain unfortunate cases, even a minor accident might result in hefty medical expenses. In that case, having an insurance policy saves you from incurring medical expenses on your own.
There are many types of insurance policies available these days, and one can easily compare and choose the most suitable one, depending upon several factors like requirement, affordable premiums, hassle-free claim settlement process, easy online payment of premiums, and many more.
IFFCO Tokio General Insurance Company 