Buy Smart Car Insurance And Secure Your Finances
Buy Smart Car Insurance And Secure Your Finances
Motor vehicles running in public places are regarded as a potential
threat to the life of passengers, pedestrains and driver. Not only this,
it can even cause damage to your own as well as third-party properties.
Assuming all these probabilities, the motor vehicle insurance law has
made it necessary for every car owner to insure themselves as well as
his vehicle.
The unexpected expenses and the legal issues occurred by an accident can not be afforded by everyone. Paying these expenses all by yourself can majorly hit your pocket. Therefore, it is mandatory to have a car insurance that acts like a guard against the financial risks brought by an accident. An insurance policy for your vehicle not only provides protection to you in case of an accident but also covers the injury caused to third party.
Why To Have A Car Insurance?
Generally, every car insurance covers six high risk categories. However, the premium payouts are separately paid for each one of it.
The unexpected expenses and the legal issues occurred by an accident can not be afforded by everyone. Paying these expenses all by yourself can majorly hit your pocket. Therefore, it is mandatory to have a car insurance that acts like a guard against the financial risks brought by an accident. An insurance policy for your vehicle not only provides protection to you in case of an accident but also covers the injury caused to third party.
Why To Have A Car Insurance?
Generally, every car insurance covers six high risk categories. However, the premium payouts are separately paid for each one of it.
1. Accident Cover Or Collision Cover
If the owner of the vehicle sustains injury while travelling in an insured car, the insurance policy provides accident as well as injury coverage for the policy holder, along with damages caused to the insured vehicle.
If the owner of the vehicle sustains injury while travelling in an insured car, the insurance policy provides accident as well as injury coverage for the policy holder, along with damages caused to the insured vehicle.
2. Bodily Injury Liability
In case of any injury caused to a third person or death of a third person, the driver of the car is legally required to pay compensation. Although, there are many insurance policies that provide cover against legal liabilities occurred by accidental damages to the third person and property. The coverage limit is not fixed for injuries or death and depends greatly on case-to-case basis.
In case of any injury caused to a third person or death of a third person, the driver of the car is legally required to pay compensation. Although, there are many insurance policies that provide cover against legal liabilities occurred by accidental damages to the third person and property. The coverage limit is not fixed for injuries or death and depends greatly on case-to-case basis.
3. Comprehensive
Generally known as 'Vehicle Damage', comprehensive excludes accidents but involves theft as well as damage to the vehicle from natural calamities such as explosion, fire, earthquake, flood, landslide, lightning, hurricane, falling objects, etc.
Generally known as 'Vehicle Damage', comprehensive excludes accidents but involves theft as well as damage to the vehicle from natural calamities such as explosion, fire, earthquake, flood, landslide, lightning, hurricane, falling objects, etc.
4. Medical
At the time of an accident, this covers medical expenses of injuries to the occupants of the insurer and also known as Personal Injury Protection (PIP). It includes cover for medical treatment or hospital bills.
At the time of an accident, this covers medical expenses of injuries to the occupants of the insurer and also known as Personal Injury Protection (PIP). It includes cover for medical treatment or hospital bills.
5. Property Damage Liability
This provides cover to third party property for the damage caused by the policy holder.
This provides cover to third party property for the damage caused by the policy holder.
6. Uninsured Motorists' Coverage
This covers treatment cost for the insurer from injuries caused by an accident with an uninsured vehicle or driver.
This covers treatment cost for the insurer from injuries caused by an accident with an uninsured vehicle or driver.
1. In case of any harm caused to the car due to collision, the insurance company pays the repair expenses. However, the repayment sum is liable to the terms of the policy and generally includes a percentage of the aggregate repair cost.
2. In the event of permanent total disability or death, the insurance policy provides a personal accident insurance to the owner of the car.
3. A good car insurance policy takes care of any type of third party liability arising out of an accident. Injury/property harm/death of the third party caused in the mishap legally put the driver or owner of the car to pay off for their misfortune. This is what insurance company deals with.
A vehicle owner must secure his possession by insuring his car. As it is fundamental, it is now mandatory to buy a car insurance policy from a trusted insurance company. This will protect the car owner from the misfortunes brought about post an accident, particularly to give a cover for third party damages. Besides, the definite terms of policy, claim settlement procedure, premium charges and add-on covers differ from company to company.
Nowadays, almost all insurance ventures provide the car insurance premium online so that the individual can easily figure out premiums on his insurance policy and can then make his choice accordingly.
