What Are The Advantages Of Motor Insurance?

Everyone dreams of buying a car. Once you buy a car, it is important that you buy motor insurance as well. Generally, the car dealer will offer you a motor insurance policy. You can opt for motor insurance from the best motor insurance companies with additional covers and features. 

 

Motor insurance will keep you financially secure in case of an accident or mishap. There are many advantages to buying motor insurance. Find out below:

 

Mandatory in India

 

First of all, motor insurance is mandatory in India. As per the Motor Vehicles Act, you can not drive a car on the road without valid car insurance. If you are found without insurance, you will be punished for the offence. Timely renewal of motor insurance is also thus necessary. Therefore, this is one of the inherent advantages of having motor insurance in India. 

 

Personal accident cover

 

A car insurance policy covers the expenses incurred due to damage to the vehicle. Additionally, it covers the medical bills and treatment expenses in case you (vehicle owner) gets injured or admitted to the hospital. This is known as personal accident cover. It is also mandatory for people of India to have this covered under motor insurance.

 

Third-party liabilities

 

An accident sometimes involves someone else and other vehicles. Any damage to the person or property of the third-party may require you to cover for those expenses. This will be covered under car insurance. Again, it is compulsory that the car insurance you buy should cover third-party liabilities. 

 

Legal Expenses

 

In case the third-party files a legal case against you, all the legal expenses for defending your case and other related legal bills will be covered by the motor insurance. 

 

Damage to vehicle

 

While driving the car, if your vehicle gets damaged due to accident, the repair and maintenance charges are very high. Car insurance can help you in such circumstances. The car insurance company will cover all the expenses related to damage to the vehicle. 

 

If you opt for a comprehensive motor car insurance, there are additional features and covers you can enjoy which will help you financially. Let’s look at them.

 

Natural disasters

 

India is one of the countries in the world where natural disasters can occur at any time. In case of floods, earthquakes, cyclone or any other natural disaster, the damage to the vehicle is covered under comprehensive motor insurance. 

 

Man-made disasters

 

A man-made disaster like theft, robbery, burglary, fire, falling objects, bird or animals can damage your car. If you have comprehensive motor insurance, man-made disasters will be covered too.

 

No-claim bonus

 

If you do not claim motor insurance in a policy year, you can get a no-claim bonus as well. 

 

These are some of the advantages of motor insurance. Various insurance companies offer special features, add-ons and additional coverage to you. 

 

Future Generali is one of the leading insurance companies providing the best motor insurance policy with additional coverage and add-ons. For more details, visit general.futuregenerali.in