Why Car Insurance plays a vital role in life

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Economics tells us that Food, Shelter, and clothing are the basic human needs. However, as civilization evolved, so did the requirements. From 3 basic needs, it became five than seven, and now there are theories regarding 11 basic needs of a human being. Demands are now categorized as per individual status and liking. Take, For example, cars, once it was considered a luxury commodity for all, now it has become a basic necessity for most. Those who own a vehicle does value it a lot. It’s their pride, a status symbol, a dream which they must have realized after months of research and saving.

A car is a cherished possession for all its beholders; it’s like your lifeline. Even the slightest scratch or dent makes your heart bleed. Even the smallest of bumps give you sleepless nights. You wear the seat belt to protect yourself from any mishap or injury, and it protects you from any accident, but what about your car? What if your beloved car meets with a crash! You got saved, but what about the car?

“Are you doing enough to protect my car?”

Is your Car Insured?

Have you taken a Car Insurance?

Just like life insurance, which protects you and your loved ones from any unforeseen risks, similarly, car insurance is the cover that protects your car from unexpected hazards and also protects you from incurring losses in case of anymishap. It covers your expenses in the event of vehicle damage or injuries to other drivers, passengers, or pedestrians.The cover of the car can include the insured vehicle, the insured party(owner) and third parties (that includes other vehicles and people) for which we pay a premium as per the value of the car, the type of coverage, etc. Let’s have a look at How a car Insurance plays a vital role in one’s life.

As I mentioned above, Driving a car is a basic necessity for thousands of people in their everyday life.In India, owning a car is now quite simple to buy a car. Having one’s car increases one’s mobility and eliminates dependence on public transport.However, driving in India has its perils. Lack of traffic discipline, failure of legal enforcement by road authorities, bad roads, road rage, etc. are some common constituents of the traffic scenario in India. Almost daily, we hear news about road accidents and rule-breaking in the media. Considering these factors, it is essential to get auto insurance as soon as one buys a car.

The most important benefit which we get from car insurance is that It pays for damages caused due to an accident. Not only are cars expensive, paying for their repairs is costly, too. Wither its due to your negligence or due to someone else’s negligence, any damage to your car can set you back by a considerable amount of money. However, if you have car insurance, you need not pay for these repairs by yourself. The insurance company will pay for it. So, even the dent in your car will not dent your pocket. Not only this if you happen to cause an accident that results in damages to another person’s property or injuries to another person, but the insurance will also pay for their treatment and save you from the legal repercussions of the case.So, by investing a small amount now in your protection, you can help avoid costly expenses in the future. That’s a worthy benefit of having an insurance for your car.

Accidents happen accidentally; you cannot forsee or plan for it, and certainly not for a car accident. Not every person who suffers an accident is fortunate to get away with a few cuts and bruises. Some accidents result in serious injuries that require hospitalization. Automobile insurance protects you from this as well. All the large hospital and treatment bills which you will incur is covered under the vehicle insurance. It will be paid by the insurance company and you don’t have to pay for it from your own pocket.

Intoday’s world, time is more important than money. A situation from a car accident can be incredibly time-consuming, lengthy, and taxing, both physically as well as mentally.Having appropriate coverage will save you a lot of time and can avoid you from negotiating with other drivers and property owners involved in the accident and managing the costs of repairing or replacing your vehicle. Excellent auto insurance can help handle a lot of these headaches.

Your auto insurance policy will cover all the repairs and replacements costs and will also cover the costs of damages to other drivers. Once you make a claim, the insurance company can help manage the process and support you through it. So not only your auto insurance saved your time, but it also gives you a peace of mind. You are saved from mental and physical harassment as you know that you’re protected well under your car insurance and you need not have to worry even if an uninsured or underinsured driver hits you. Your car insurance has made your life a lot easy and hassles free.

Though it’s not a pleasant situation to visualize, yet God forbidding if your car accident results in your demise, your motor insurance will compensate your family for it.Acar insurance policy can help pay the family’s expenses after the unfortunate event.

Driving without car insurance is illegal. If you don’t have it, you could be fined or even sent to jail. Most importantly having a car and not having its insurance is a punishable offense. So, after looking at the points mentioned above, we can easily conclude that having car insurance is as essential to our life as any protection which we use in our life. As it’s wiser to be cautious and careful than to be hasty or rash and so do something you may later regret.

 

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