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Full Explain, Why should I get car insurance 2022?

As always, welcome to this blog of yours. Friends, in the previous post, we had known, what are the benefits of bike insurance, and how to apply it online. Today we will know, full explanation, why should I get car insurance 2022?. So let's know.

Most people insure the car only because of the legal requirement. But, in reality, it is helpful for you in many types of difficulties. It is beneficial for you financially, mentally, and physically. 

In this article, we will know why one should take car insurance? How do you live more comfortably than this?

Why should I get car insurance?

Due to heavy traffic, arbitrary use of traffic rules and insufficient awareness of traffic rules among drivers, you or your vehicle can become a victim of an accident at any time. 

In such situations, car insurance acts as a protective cover for you. Certainly, the following are the arguments in favor of taking car insurance:

Car insurance is legally mandatory

According to the Motor Vehicles Act 1988, it is mandatory to take motor insurance to drive on Indian roads. If your vehicle is caught without insurance, you could be fined. 

Your driving license can also be revoked. However, only Third Party Liability (TPL) is mandatory in vehicle insurance. In this, you get insurance protection against damage caused by your vehicle to any other person, vehicle, or property.

In the case of third-party insurance, the insurance company also pays for the treatment of the other person. 

In case of his death, the insurance company pays compensation to his family members according to his financial condition.

If the matter reaches court, the insurance company can help you. The insurance company also pays the cost of filing a lawsuit, the cost of a lawyer, etc.

Repair compensation in case of damage to the car

The car itself is expensive. Its accessories and parts are also not very cheap. Sometimes they can get damaged in an accident. 

Or it could be due to someone's carelessness or mistake. For example, your car collides with another vehicle, or your car hits a divider to protect a pedestrian, or a cricket match ball breaks your window. 

If you have comprehensive car insurance, the insurance company covers the cost of repairing the car and you live in peace.

Apart from the main policy of car insurance, there are also insurance policies for certain specific purposes. These are called add-on covers or riders. 

Such as personal accident, roadside assistance, zero depreciation, engine cover, etcetera. With their help, you can further strengthen the scope of your insurance cover.

Damage for theft or destruction of car

God or not, if your car is stolen, or completely destroyed in an accident, the insurance company compensates you for getting another car. 

You get such compensation even if the vehicle is destroyed due to natural calamities, weather, and fire incidents.

This compensation is determined according to the market value of your used car at that time. This market value is in the form of the IDV (Insured Declared Value) of your car. 

IDV is the declared value that the insurance company pays you if the car is stolen, or completely destroyed. As the car gets older, it gets depreciated from year to year.

Compensation up to 15 lakhs on disability or death

In case the car owner dies in an accident or suffers a permanent disability, the insurance company also pays compensation to his family members. 

Along with vehicle insurance in India, it is also mandatory for the owner-driver to take personal accident insurance (personal accident cover for owner-driver) of minimum of 15 lakhs. 

You can also take an insurance policy of more than this as per your convenience.

Note: With respect to a car insurance policy, the owner-driver is considered to be the person who owns the insured vehicle and holds a valid driving license. 

While taking a car insurance policy, the name of the owner-driver is already recorded in it.

Cost of treatment of injured driver or passengers

Along with car insurance, there are also some add-on policies that provide insurance cover against damage caused to your car driver (salaried) or passengers. For example,

Accident Cover for Paid Driver' can be taken for a driver. Then, in case of his injury, disability, or death due to an accident, the insurance company will give compensation. 

Similarly, there is an accident cover for the passengers in the car. The insurance company pays compensation to passengers in the case of injury, disability, or death.

The resale value of the insured car is also high

If you have taken a comprehensive insurance policy, then it gets repaired in case of any mistake. If you have taken a zero depreciation policy then you get better compensation. 

The insurance company decides the IDV of your car very well. All these indicate that you have kept the car in good condition and will remain in good condition. When you want to sell it.


We are sure that you will like this information very much. Do share this blog with your friends for more such information. Thank you.

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