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Why Do We Want An Insurance For Our Vehicle?
Why Do We Want An Insurance For Our Vehicle?
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Joined: 2022-09-30
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Driving a vehicle shouldn't be a luxury slightly it is a big responsibility. Even many people consider driving as a standing image especially in a country like India, where individuals consider in showing off. With the rising earnings slabs, having a vehicle is by no means a big deal now a days and folks can easily afford to have bikes and cars. It not only depicts the standing of a society but in addition will increase the mobility and hence saves time. Driving is eliminating the dependency on the general public transport too.

 

 

 

 

It's true that driving has made our lives comfortable however at the similar time it also pushing us towards a dangerous life as well. As somebody rightly said that "The speedway ends at the cemetery". On the name of show-off, individuals not only put their own life into hazard but also damage others as well by over-speeding their vehicles. The daily reports of accidents as well as deaths in the newspaper is now a standard thing. Individuals are dropping their lives in road accidents by breaking the visitors rules and by not following the driving ethics they also put lifetime of others in danger. Moreover, the price of spare parts along with the high repair prices squeezes your pocket which proves that having a good Motor Insurance policy is essential these days.

 

 

 

 

Motor Insurance is principally purchased for the vehicles running on the roads with the first objective of providing a protection to the vehicle and the driver in opposition to any physical damage in case of accident. There are many factors for which buying a Motor Insurance is necessary:

 

 

 

 

Obligatory by Law: The foremost reason of buying a Motor Insurance is that it is compulsory by law. According to the Motor Vehicle Act, it is mandatory to have a Third-party insurance. The police have the fitting to check your vehicle's documents like PUC, license and insurance coverage, at any level of time. If you're unable to provide documents, you will be in trouble. So, it is advisable to buy a motor insurance before you hit the road.

 

 

 

 

Loss and Damage to the vehicle: We all know that the folks don't have any driving sense in any respect and the kind of visitors administration we have in our country, there's hardly a day you without banging of vehicles cause damages. The principle reason for having motor insurance is that it covers the expenses incurred due to any loss or damage to your vehicle. Hence it is always good to be on a safer side and have a motor insurance before driving your bike or automobile on roads.

 

 

 

 

Reduces your liability: Third Party Liability (TPL) motor insurance is obligatory in India, which protects you from the legal implications of an accident caused by you. TPL means that should you cause damage caused to a different person and his/her property in an accident, the insurance will pay for their therapy and save you from the legal bearings.

 

 

 

 

Hospitalization: Not every vehicle owner is lucky sufficient to get just few cuts and bruises in an accident. Some accidents put you in a tough situation and you'll want to be hospitalized. In that situation, your motor insurance firm will pay your hospital bills, instead of shelling out the high hospital and remedy prices out of your own pocket.

 

 

 

 

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