Motor Insurance

ABOUT MOTOR INSURANCE

ABOUT MOTOR INSURANCE Motor insurance is a vehicle insurance policy that is mandatory for vehicles like trucks, cars, jeeps, bikes, scooters, etc. This policy offers coverage to the vehicle owner/driver against financial losses that may occur due to accidents or other kinds of damages. Having valid motor insurance is compulsory in India to protect vehicle owners from potential financial risks. It is the best form of security that you can acquire to prevent significant expenses that result after an accident. The Government poses the compulsion for the safety of the individuals who travel via motor vehicles daily.

WHY SHOULD YOU BUY A VEHICLE INSURANCE POLICY?

Legal Requirement

The first reason is, of course, to follow the laws and regulations of the Government. A person should oblige to buy a motor insurance policy with minimum coverage before taking the vehicle out on the road.

Third-party Damage Coverage

With sufficient coverage, you can pay for the damages that occurred after a collision with a third-party. Without motor insurance, you’ll have to pay from your pocket, and an appropriate amount of coverage can take care of such expenses.

Security Against Theft

Theft is one of the most significant threats on a vehicle. But with a vehicle insurance policy, you are protected against theft, vandalism, and all man-made harmful activities.

Damage Expense Coverage

Paying outright for vehicle damage repairs will affect your financial condition. However, you can pay for such damages with the insurance even though the amount is hefty as long as you have enough coverage.

Insurance against Personal Injuries

Not every vehicle owner is lucky to get out of accidents without suffering from injuries. The motor insurance policy will pay for all the minor and major injuries that might occur due to accidents.

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