Why do I need Auto Insurance?
The first and obvious answer to that question is very simple. It is the law! If you own a vehicle that is being driven by someone, even if it is not you, the vehicle must be insured. The main reason for the law is to guard against drivers causing injury to others and having no reasonable means to compensate the injured party financially.
Aside from the legal aspects of requiring auto insurance, there are many other good reasons for insuring your vehicle.. The general benefits of having car insurance are:
Damage to Vehicle
While in most instances, the insurance payments for a vehicle that has been completely damaged never covers the cost of a new vehicle, the insurance is nonetheless very important when a car is involved in any accident, even a minor one. At least the insurance company will pay for the damages to be repaired or offer a settlement value towards a totaled vehicle.
Accidental Death Cover
Whether or not you/driver are involved in an accident with another party or alone and whether or not you/driver are to blame, having car insurance will provide for accidental death benefit (not more that 2Lacs) to the beneficiaries of all departed.
Theft
Another reason that many people do not think about when searching for car insurance is that the vehicle may not be involved in an accident to require an insurance claim. In fact, for people that own vehicles that are appealing to thieves, insurance coverage would be a good idea. Also, if the vehicle is vandalized or goes on fire in your own driveway, then insurance would be required.
In addition to this there are other services that differ from insurer to insurer. Some of the benefits may help the buyer choose what company is best for buying car insurance.
• Toll Free Help Line
• Anywhere/Anytime Claim Reporting
• Pickup/Towing of Vehicle
• NCB Transfer From Other Company
• Cashless Settlement At Network Dealers
• Online Approval For Minor Claims
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