Driving a vehicle isn’t a luxury rather it’s a big responsibility. Yea numerous people consider driving as a status symbol especially in a country, where people believe in showing off. With the swelling income billets, having a vehicle isn’t at all a big deal now a days and people can freely swing to have bikes and wheels. It not only depicts the status of a society but also increases the mobility and hence saves time. Driving is ruling out the reliance on the public transport too.
It’s true that driving has made our lives comfortable but at the same time it also pushing us towards a unsafe life as well. As someone duly said that “The speedway ends at the cemetery”. On the name of show-off, people not only put their own life into risk but also hurt others as well by over-speeding their vehicles. The quotidian reports of accidents as well as deaths in the rag is now a common thing. People are losing their lives in road accidents by breaking the marketplace rules and by not following the driving ethics they also put life of others in risk. Either, the cost of spare tract along with the high order costs squeezes your resources which proves that having a good Motor Insurance policy is essential these days.
Motor Insurance is generally copped for the vehicles running on the roads with the primary idea of furnishing a protection to the vehicle and the motorist against any physical damage in case of accident. There are multifold factors for which buying a Motor Insurance is important
Involuntary by Law The foremost reason of buying a Motor Insurance is that it’s mandatory by law. According to the Motor Vehicle Act, it’s involuntary to have a Third- party insurance. The police have the right to check your vehicle’s documents like PUC, license and insurance policy, at any point oftime.However, you’ll be in trouble, If you’re inexpert to furnish documents. So, it’s judicious to buy a motor insurance before you hit the road.
Loss and Damage to the vehicle We all know that the people have no driving sense at all and the kind of business control we’ve in our country, there’s hardly a day you without banging of vehicles bringabout damages. The main reason for having motor insurance is that it covers the costs incurred due to any loss or damage to your vehicle. Hence it’s always good to be on a safer side and have a motor insurance before riding your bike or automobile on roads.
Reduces your liability Third Party Liability (TPL) motor insurance is imperative in India, which protects you from the legal criminations of an accident caused by you. TPL means that if you bringabout damage caused to another person and his/ her property in an accident, the insurance will pay for their treatment and save you from the legal addresses.
Hospitalization Not every vehicle possessor is lucky enough to get just multiplex cuts and bruises in an accident. Some accidents put you in a prickly situation and you need to be doctored. In that situation, your motor insurance company will pay your sickroom bills, instead of shelling out the high sickroom and treatment costs from your own exchequer.
Compensates your family after your demise Some accidents are so terrible that it results to a motorcar proprietor’s death, which is the most unfortunate result of a road accident. Once the victuals- earning policy holder has passed away, it becomes ticklish for his/ her family to fulfil their quotidian requirements. So, a motor insurance policy helps the family to bear outgoes after any unfortunate event.