Car Insurance Means

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When you buy a car, you have no choice over purchasing insurance for your vehicle.  A car/motor insurance policy is compulsory under the Motor Vehicles Act. It also means that you cannot drive without a policy! What you probably also may not know is that this insurance is only a basic protection covering liabilities during an accident and includes only third party injury, death and property damage.

Well, your next question automatically will be, what else should the car be insured for? And why would all that be important? Since car insurance is a legal requirement, most of us don't really know that this basic policy does not insurance the policy holder's vehicle which is entirely optional.  You may be the best driver in the world but there's no way of telling when an accident is waiting to happen. And mind you, even a minor accident can deplete all your savings. Which is why it is essential to have the right motor insurance in place?

Further on, it is also important to know that vehicle policies vary and there are diverse plans that cover comprehensive packages. Apart from personal accident cover, you can also get insured for damages caused by natural calamities like earthquake, floods and storms, insurance against fire, theft and even terrorism. Therefore, it pays to carry out a little bit of research before you decide on the best car insurance.  Remember, if you don't choose the right plan, you could even be under-insured – and that only spells trouble for you!

While you may consider the car insurance to be a necessary hassle, you probably would be completely unaware of the hidden benefits that come along with it. Amongst them is the ‘no claims bonus' which gives you a surprise discount on renewing your premium. And the good news is that this discount once earned stays with the policy holder even if the vehicle is sold or transported. This apart, it goes without saying having a motor insurance gives you tremendous peace of mind and financial security when you need it the most.

With technology at our disposal, buying car insurance online has become a breeze. It's convenient, hassle free and saves you a great deal of time by cutting down on documentation processes.  

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