Driving a vehicle is not a luxury but a great responsibility. Even many people consider driving a status symbol, especially in a country like India where people believe in showing off. With the increase in income, owning a vehicle is not a big problem nowadays and people can easily afford to own bikes and cars. It not only represents the state of a society, but also increases mobility and thus saves time. Driving also eliminates dependency on public transportation.
It is true that driving has made our lives more comfortable, but at the same time it also pushes us towards a dangerous life. As someone said “The highway ends at the cemetery.” In the name of showing off, people are not only endangering their own lives, but also hurting others by over-revving their vehicles. Daily reports of accidents and deaths in the newspaper are now commonplace. People are losing their lives in traffic accidents by breaking traffic rules and by not following driving ethics they are also endangering the lives of others. Also, the cost of replacement parts along with high repair costs puts pressure on the pocket, proving that having a good car insurance policy is essential these days.
Automobile insurance is mainly taken out for vehicles that travel on the roads with the main objective of providing protection to the vehicle and the driver against any physical damage in the event of an accident. There are many factors why it is important to buy car insurance:
Required by Law: The main reason to buy auto insurance is that it is required by law. According to the Motor Vehicle Law, it is mandatory to have Third Party insurance. The police have the right to check your vehicle documents such as PUC, license and insurance policy at any time. If you can’t provide documents, you’re in trouble. Therefore, it is advisable to purchase car insurance before you hit the road.
Vehicle Loss and Damage: We all know people don’t have any driving sense and the type of traffic management we have in our country, there is hardly a day without vehicle hits causing damage. The main reason to have car insurance is that it covers the expenses incurred due to any loss or damage to your vehicle. So it is always good to be extra safe and have car insurance before you ride your bike or car on the roads.
Reduces Your Liability – Third Party Liability (TPL) insurance is mandatory in India and protects you from the legal implications of an accident caused by you. TPL means that if you cause damage to another person and their property in an accident, the insurance will pay for your treatment and save you from legal consequences.
Hospitalization: Not all vehicle owners are lucky enough to sustain a few cuts and bruises in an accident. Some accidents put you in a difficult situation and you need to be hospitalized. In that situation, your auto insurance company will pay the hospital bills, rather than paying the high hospital and treatment costs out of your own pocket.
Make it up to your family after you pass away – Some accidents are so terrible that they result in the death of the car owner, which is the most unfortunate result of a car accident. Once the breadwinner policy holder passes away, it becomes difficult for his family to meet their daily needs. Therefore, a car insurance policy helps the family to take care of the expenses after any unfortunate event.
