According to the Motor Vehicles Act of 1988, a car insurance coverage is required to operate a car in India. The Act requires that you have enough insurance coverage for third-party liability arising from any harm or damage you cause to others.

Purchasing car insurance is just as crucial as purchasing the car. There are several reasons why it is critical for you to maintain track of your auto insurance status. Indeed, thanks to the country’s technological advancements, you can now check vehicle insurance online to see when you need to begin the renewal procedure

While third-party insurance is required, you should get comprehensive car insurance for the following reasons:

Third-party coverage covers damage to the vehicle as well as legal liabilities resulting from a person’s injury or death as a result of an accident involving your car.

If your automobile is damaged in an accident or a natural disaster, your own damage coverage pays for the repairs.

It also reimburses you for medical expenses incurred as a result of an accident, disability, or even death.

Car Insurance Benefits

  • Covers losses or damage to one’s own vehicle, such as those caused by accidents, theft, or explosions.
  • Covers damage to your vehicle caused by natural disasters such as fire, earthquakes, floods, riots, and terrorist acts.
  • Car insurance protects you from legal repercussions if you cause property damage, injury, or death to another person.
  • Under PA Coverage, provides death benefits to family members. If your nominee dies or becomes disabled as a result of an accident, you will get a lump sum payment of Rs. 15 lakhs.

Although there are benefits but you should also be aware of what Car Insurance Doesn’t Cover. Loss as a result of driving while under the influence of alcohol or drugs ,War or invasion-related loss or damage,Failure of the mechanical or electrical systems ,Damage to your automobile as a result of normal wear and tear, ageing, or use,Loss as a result of driving without a valid driver’s licence, Damage to the tyres and tubes, unless caused by an accident, Consumables costs/accessories lost, Racing, speed testing, commercial use, or purposeful destruction can all cause harm, and  Indirect loss or damage/loss as a result of the indirect loss, Engine failure (Non-accidental) are some of the concerns which are not addressed by car Insurance.

Car insurance typically has a one-year validity term. Here are some of the reasons why you should keep an eye on your auto insurance policy and make sure it’s up to date:

An auto insurance provider will give you a No Claim Bonus if you don’t file any claims during the active policy year. However, you can only receive NCB benefits if you renew your automobile insurance coverage at the specified period. If you do not renew your insurance before it expires, you will not be eligible for this benefit since it is no longer valid.

It’s almost as if you don’t have any auto insurance if your coverage has expired. If you are driving or riding your car with an expired insurance coverage, you will be caught by traffic officials. You would have to go through the legal process after being apprehended by the authorities. If your car is involved in an accident or you receive injuries, you will be responsible for all of the bills out of your own pocket.

If you renew your insurance on time, you will be able to recoup any monetary damages incurred as a result of any tragic incidents involving your car.

Furthermore, renewing your policy on time guarantees that you have uninterrupted coverage. This allows you to take advantage of numerous advantages such as third-party property damage coverage, self-injury coverage, car coverage, and cashless repair options.

With the cheapest premium in car insurance several individuals may doubt whether the policy will be worth buying. As per Hello Policy, lower premiums can prove to be ideal when the policy and the insurer are reliable.

 

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