Why Do We Need an Insurance for Our Vehicle?

Driving a vehicle is not a luxurious reasonably it is a big responsibility. Even many individuals consider driving as a status symbol particularly in a country like India, the place folks imagine in showing off. With the rising income slabs, having a vehicle is not at all a big deal now a days and people can easily afford to have bikes and cars. It not only depicts the status of a society but additionally increases the mobility and therefore saves time. Driving is eliminating the dependency on the general public transport too.

It’s true that driving has made our lives comfortable but on the same time it also pushing us towards a deadly life as well. As someone rightly said that “The speedway ends on the cemetery”. On the name of show-off, folks not only put their own life into hazard but also hurt others as well by over-speeding their vehicles. The every day reports of accidents as well as deaths in the newspaper is now a typical thing. Individuals are dropping their lives in road accidents by breaking the site visitors guidelines and by not following the driving ethics additionally they put life of others in danger. Moreover, the cost of spare parts alongside with the high repair costs squeezes your pocket which proves that having a good Motor Insurance policy is essential these days.

Motor Insurance is principally bought for the vehicles running on the roads with the first objective of providing a protection to the vehicle and the driving force against any physical damage in case of accident. There are lots of factors for which shopping for a Motor Insurance is necessary:

Necessary by Law: The foremost reason of buying a Motor Insurance is that it is obligatory by law. According to the Motor zanussi01 Vehicle Act, it is obligatory to have a Third-party insurance. The police have the correct to check your vehicle’s documents like PUC, license and insurance coverage, at any level of time. If you are unable to provide documents, you will be in trouble. So, it is advisable to buy a motor insurance earlier than you hit the road.

Loss and Damage to the vehicle: We all know that the folks don’t have any driving sense at all and the kind of site visitors management we have in our country, there may be hardly a day you without banging of vehicles cause damages. The principle reason for having motor insurance is that it covers the bills incurred due to any loss or damage to your vehicle. Hence it is always good to be on a safer side and have a motor insurance before driving your bike or car on roads.

Reduces your liability: Third Party Liability (TPL) motor insurance is necessary in India, which protects you from the legal implications of an accident caused by you. TPL means that for those who cause damage caused to a different individual and his/her property in an accident, the insurance will pay for their treatment and prevent from the authorized bearings.

Hospitalization: Not every vehicle owner is lucky sufficient to get just few cuts and bruises in an accident. Some accidents put you in a troublesome situation and it is advisable be hospitalized. In that situation, your motor insurance firm will pay your hospital bills, instead of shelling out the high hospital and treatment prices out of your own pocket.

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