Driving a vehicle is just not a luxury rather it is a big responsibility. Even many people consider driving as a standing image particularly in a country like India, where folks believe in showing off. With the increasing earnings slabs, having a vehicle is under no circumstances a big deal now a days and people can simply afford to have bikes and cars. It not only depicts the standing of a society but additionally increases the mobility and therefore saves time. Driving is eliminating the dependency on the general public transport too.
It is true that driving has made our lives comfortable however at the similar time it also pushing us towards a perilous life as well. As someone rightly said that « The speedway ends on the cemetery ». On the name of show-off, people not only put their own life into danger but also damage others as well by over-speeding their vehicles. The day by day reports of accidents as well as deaths within the newspaper is now a common thing. People are losing their lives in road accidents by breaking the visitors rules and by not following the driving ethics additionally they 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 an excellent Motor Insurance policy is essential these days.
Motor Insurance is especially bought for the vehicles running on the roads with the first goal of providing a protection to the vehicle and the driver in opposition to any physical damage in case of accident. There are lots of factors for which shopping for a Motor Insurance is essential:
Mandatory by Law: The foremost reason of shopping for a Motor Insurance is that it is obligatory by law. According to the Motor Vehicle Act, it is mandatory to have a Third-party insurance. The police have the right to check your vehicle’s documents like PUC, license and insurance coverage, at any level of time. If you are unable to provide paperwork, you will be in trouble. So, it is advisable to buy a motor insurance earlier than you hit the road.
Loss and Damage to the vehicle: We all know that the individuals have no driving sense in any respect and the kind of visitors administration we’ve in our country, there’s hardly a day you without banging of vehicles cause damages. The main reason for having motor insurance is that it covers the bills incurred because of any loss or damage to your vehicle. Therefore it is always good to be on a safer side and have a motor insurance earlier than riding your bike or car on roads.
Reduces your liability: Third Party Liability (TPL) motor insurance is necessary in India, which protects you from the authorized implications of an accident caused by you. TPL signifies that if you cause damage caused to another individual and his/her property in an accident, the insurance will pay for his or her remedy and save you from the authorized 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 troublesome situation and you need to be hospitalized. In that situation, your motor insurance company will pay your hospital bills, instead of shelling out the high hospital and therapy costs out of your own pocket.
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