Everyone who owns a car wants a valid car insurance policy because it not only protects your car from all types of natural or man made calamities but also is mandatory by law, but sometimes car insurance can be difficult to understand and confusing. Certain guidelines need to be followed by the car insurance buyers while selecting the policy. At the time of crisis car insurance acts as a great friend by providing compensation. It by covering the losses made in an accident saves you from paying out the huge sum of money from your pocket. This article will provide you with a guideline of benefits that car insurance policy provides and will make you aware of different types of car insurance.
Benefits Of Car Insurance
It is difficult for many to afford to buy another car if their previous car gets stolen. Car insurance reimburses you for the value of the car that has been stolen.It provides benefits to survivors in case an accident results to death. It covers lawsuits brought against you as a result of any accident. It pays for vehicle repairs if you face with an accident. Moreover, in all the states in India a minimum amount of insurance is required. Driving around without proper car insurance is not legal in India.
Different Types Of Car Insurance
There are several types of car insurance policies that a driver should consider.
This type of insurance gives you protection from legal and financial repercussions of an accident. This basic level of insurance is essential for everyone who owns a car.
- Collision Coverage
This form of insurance pays for compensations to your own car in an accident. If you take loan, there is a chance that you will be compulsory by the bank to buy collision insurance. There are certain financial advisors who suggest diminishing collision coverage in case your insurance premium comes out to more than less than 10 percent of what you will get if your car is totaled.
- Comprehensive Insurance Coverage
This kind of car insurance is an addition of collision insurance which offers cover age on damages from fire, theft or weather.
- Uninsured Motorist Insurance
If you obtain in an accident with an unsafe driver this insurance will protect you. There are some areas that are more horizontal to this trouble than others. You need to calculate your own condition as well as the circumstances of those around you before purchasing this insurance.
It is very important to choose the right car insurance plan which can satisfy all your requirements. One of the most important benefits of car insurance is that it will help you abide by the law. Car insurance can protect you from suspension of your licence, hefty fines etc. It is essential that you keep yourself updated about all types of car insurance and their benefits before selecting one. Basic car insurance are necessary but having too many car insurance can make you pay excessive premiums for coverage you don’t need. If you have any queries regarding car insurance, you can call Aviva Contact number for knowing the details,