Car insurance is a mandatory requirement for all car owners in India under the Motor Vehicles Act of 1988. This act makes it mandatory for all vehicle owners to have at least a basic third-party insurance policy to drive legally on Indian roads. It essentially protects the interests of all the parties involved in case of any unforeseen event. Well, you are not particularly wrong, when you say, that car insurance is a vital aspect of owning and driving a vehicle.
Protection for third-party liability: Car insurance provides coverage for any damage or injury caused to a third party in an accident involving the insured vehicle. This ensures that the victim is compensated for their losses and does not have to bear the financial burden of the accident.
Protection for the owner/driver: Car insurance also provides coverage for the owner/driver of the vehicle in case of an accident, including compensation for injuries, disabilities or even death, and protection against legal liabilities.
Compliance with the law: Car insurance is mandatory by law in India, and failure to have valid car insurance can lead to fines and penalties.
Financial protection: Car insurance also provides financial protection to the car owner in case of theft, damage due to natural disasters, or other unforeseen events.
Peace of Mind: Car insurance gives peace of mind to the car owner as it provides coverage against any unexpected expenses that may arise due to any unfortunate events.
Add-on Covers: Car insurance policies offer several add-on covers that provide additional protection against any unforeseen events, such as personal accident cover, engine protection cover, roadside assistance, and more.
Having car insurance is not only a legal requirement in India but also a necessity for protecting yourself and others on the road. With the increasing number of accidents and the rising cost of repair and medical expenses, car insurance is a must-have for every car owner in India. Buying car insurance online is the best way to free yourself from all the unnecessary paperwork.
To learn about the insurance plans offered by different providers, visit car insurance on our website. Alternatively, you can also download the Park+ app from the Play Store and buy car insurance on the go with zero documentation. Use the Park+ app now, if you want to buy Car Insurance from a reputed insurance provider instantly with a few clicks.
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