In the last 10-15 years, India’s number of car owners has increased significantly. You can see the change, particularly in the metro cities where cars are not a luxury anymore but a necessity. Various car models to choose from depending on your need and budget. It reduces your dependency on public transport, and you can travel however you want. This has become particularly significant post the Covid outbreak. However, to drive your car on Indian roads, you must have car insurance.
What is car insurance?
covers you against any financial losses in case of a mishap involving your car. It also covers third-party liabilities if someone is injured or somebody’s property is damaged due to your vehicle.
The central government made the four wheeler insurance to minimize the losses for a car owner in uncertain occurrences involving the car. An accident is associated with trauma, legal hassles, and monetary issues. Starting from the repairing costs to treatments for physical injuries, you would be unprepared for the expenses that may appear suddenly. Your insurer will cover you against these sudden losses if you have car insurance.
Why is four-wheeler insurance important?
Cover against third-party liability.
Rash driving and careless ignorant drivers are a common sight on the roads. There can be a head-on collision, or your car can get hit from any side without fault. The problem increases if a third party is physically injured or their vehicle or property gets damaged. You would be in deep trouble if the third party gets severely injured or succumbs to his injuries. Besides legal issues, you must financially support the bereaved family if they move to court and demand compensation. Third-party four-wheeler insurance would cover you in these difficult situations as your insurer would take up the burden. The insurance company takes care of its policyholders’ legal and financial liabilities.
A third-party car insurance policy is mandatory for all car owners in India. So, you cannot drive your car without getting your car covered. If you are caught driving without insurance or an expired policy, you have to pay a fine or face imprisonment or both, depending on the situation.
However, the third-party four-wheeler insurance covers only the losses to the third party. It does not compensate for any damage to your car or physical injury to yourself. For that, you must opt for a comprehensive car insurance policy.
You will find many bad roads in most Indian cities irrespective of their metro or tier-2 city stature. The condition of these roads worsens during monsoons or when an underground cabling or construction activity occurs. The dug-up areas are left without any repair for some time, and it becomes terrible to drive on these roads. On top of that, heavy showers aggravate the problem of waterlogged and potholed roads. There is a high chance of car damage in such situations, and the repair cost can burn a hole in your pocket. This is where having a comprehensive four wheeler insurance policy can help. This policy would cover the damages to your car for accidental or non-accidental reasons.
Physical injury to self
If you are lucky, you will get away unharmed or with minor bruises and cuts after an accident. But, in some cases, the injuries can be severe, and in the most unfortunate circumstances, they can lead to temporary or permanent disability or death. To support your traumatized family members financially, you may get yourself a personal accident (PA) cover. This is important if you are the primary bread earner of your family. You are eligible for PA coverage if you have comprehensive car insurance.
So, get four-wheeler insurance to keep yourself stress-free when you drive. It will take care of all your legal and financial issues if there is an unprecedented occurrence on the road anywhere across India.