Nowadays, most car owners might be aware of the fact that when they buy a car, they also need to buy car insurance with it . Why is it important?
Well, there are a number of different reasons why car insurance can turn out to be really beneficial for you in the long run. In addition to that, according to the motor vehicles act in many countries, car insurance is really mandatory even if you buy a second-hand car. It also needs to be renewed every now and then before its expiry in order to keep it active.
Furthermore, buying car insurance is easy and convenient, and you do not have to stick to the options your dealer is providing, which means you can also purchase a car insurance plan of your own choice and whatever suits your preferences. Make sure to shop around for a variety of car insurance quotes to make sure you are getting the best deal and coverage for your needs.
Here are some of the many benefits of buying car insurance. Scoop in more below to find them out:
Third-Party Liability Coverage
This means that car insurance comes with the leverage of a comprehensive insurance plan. This plan includes the compulsory aspect that is associated with a car insurance policy. This insurance provides you with the option of third-party liability coverage, which means that it covers the damage to the third party’s property or injury to the third party that is caused due to the insured car.
This helps you save a lot of money, in case you meet with an accident or accidentally cause damage to someone else’s car. The insurance company helps you to pay off the dues of the third party.
Personal Accident Cover
Another one of the main advantages of getting car insurance is that it offers you the feasibility of personal accident cover for a certain and predetermined amount of money. This means that in case you somehow get injured due to an accident that also involves your insured car, the insurance company helps you to take care of the medical expenses upto a particular amount, as they have mentioned in their terms and conditions policy.
In addition to that, personal accident covers the protection against the permanent total disability and death that was caused due to the accident. This cover from the insurance plan can also be taken for other passengers on some unnamed basis for a predetermined amount under the car insurance policy.
No Claim Bonuses
One of the greatest benefits of getting insurance for your car is that it provides you with no claim bonuses, also known as NCB.
This means that a customer who gets car insurance is eligible for this benefit for every year he does not claim his insurance. This might also be available as a discount on the premium offer, which makes getting car insurance even more affordable for you.
Car insurance policies are also applicable in case your car gets stolen. For example, imagine you parked your car in a certain parking place, and when you come back, you fail to find it while being in the same area.
Thus to help you deal with such devastating situations, a comprehensive car insurance plan also covers car theft. You would receive the insured vehicle’s declared value after the claim settlement procedure is completed.
Along with your comprehensive car insurance plan, you also have the option to buy additional covers for your car. Furthermore, these covers can not be bought along with a third-party liability policy or on a stand-alone basis.
These add-ons in the car insurance are designed to cover the exceptions of the insurance policy, i.e., roadside assistance, return to invoice, zero depreciation, engine protection, etc.