Under the Indian Motor Vehicles Act, it is mandatory for a car owner to have a valid car insurance. Driving without a valid car insurance is an offence and can attract severe penalties and can even lead to a suspension of your driving license. There are several reasons why getting a car insurance has been made mandatory in India. Here’s a quick look at some of them.
1. It covers damages to your car
Repairing a damaged car can drain your finances quickly. Whether the damage to your car was a result of your own negligence or due to a third-party, a car insurance can help you pay for the repairs.
2. It covers third-party liabilities
If you get involved in an accident, a car insurance can help you tide over third-party liabilities and other legal ramifications. For instance, if an accident caused by you directly leads to property damage or injury of a third party, a car insurance can compensate for the injuries caused as well as for restoring the property to its erstwhile state.
3. It provides financial compensation to your family in the event of your death
If the car accident that you get into leads to your demise, car insurance can help your beneficiaries financially by providing them with a death benefit. This way, you can ensure that your family leads a comfortable life even when you’re not around.
4. It covers hospitalization expenses in the event of an accident
Not all accidents lead to death. In some accidents, you might escape with minor or non-fatal injuries. In such cases, a car insurance plan can come to your rescue. It can provide cover for all your treatment related expenses, hospitalization expenses, and cost of transportation as well.
Shopping for car insurance can be a confusing affair. But not with Elephant Insurance. Thanks to our wide-range of insurance partners, getting a car insurance plan that’s customized according to your needs is now easier than ever. By purchasing a car insurance through Elephant Insurance, you also get to enjoy an automatic home insurance plan up to Rs. 50 lakhs! That’s not all though. We also offer amazing deals at mouthwatering prices on our car insurance products.
