Is It Worth to Buy A Car Insurance Policy?

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The Car Insurance Policy you take is your best friend and please never treat it as an expense. It is truly an investment that will help you when you stand helpless. We are not born to stay at our homes and move only to nearby places. Every day, we travel to our workplace, friend's houses, functions, occasions, etc. At times, our heart wants to explore the other part of the world and we travel outdoors to tourist places, and hill stations. It refreshes our soul and helps us in multiple ways. When travelling has the magic of turning your bad week into a good weekend, there is no harm in doing that. Travelling involves a list of both natural and artificial risks like floods, cyclones, earthquakes, accidents, theft, robbery, attacks, etc. If you restrict yourself from travelling due to these risks, it is your ignorance. To add light to your ignorant tunnel, here is the concept of Car Insurance which can transfer the risk on it by charging a minimum premium amount from you. Remember, it is also mandatory by law to have your car insured. If you drive a car without car insurance in India, it is termed illegal and you will be subjected to fine or imprisonment. So, the government itself implies the importance of taking a car insurance policy. If you still have doubts and want to know the worth of buying car insurance, keep reading till the end because this blog can add value to your life.

Life saviour: A car insurance policy can help you to pay your medical bills arising out of any physical injury from an accident. The medical bills are not reimbursed only for the policyholder, but the cost of medical expenses for all the passengers in the car during the accident can be reimbursed. So, a Car Insurance Policy not only saves your life but also your dependents during the travel. If you feel your life is worth it, then car insurance must also be considered worthy enough.

Supplements Health Insurance: Car insurance covers all the medical bills that arise during an accident, which indirectly supplements your health insurance too. You can even get dental treatment and any fractures arising from an accident which is the purpose of health insurance. So, if you are a person with a good lifestyle and is not prone to any lifestyle-related diseases, then car insurance can protect you from paying huge bills that arise out of travel risk.

Staying Cool during risks: We can't be always conscious while travelling. We have so much to think about and that leads us to make mistakes. It is natural to make such mistakes while driving but one single mistake can cost you a lot. Also, even if you were right from every aspect the opposite driver might be in a bad mood and due to his/her carelessness, you become a hostage for huge medical and repair bills. If you want to avoid such awkward situations, do consider buying the right car insurance policy and stay cool-headed during every travel because you have already invested for this particular situation.

Protects you from third party liabilities: The person who had a bad mood on a bad day need not be the opposite driver every day. The negligent driver can be you or the person who borrowed your car on that day. Due to your or your borrower's carelessness, you can hit other people's properties and will be subjected to compensation charges. If it is a loss of life or bodily injury from third parties, you can also face legal charges. At those times, a car insurance policy can save you by providing a lump sum amount of money.

Not at all an expense: No matter the size of your savings, they can easily be drained in today's world with increasing risks daily. It is advised multiple times to invest your savings in some form of plan and tools. Car insurance can be a great investment if your lifestyle is based on travelling and driving. You can pay now and enjoy later, and especially during a crisis. Various coverage options can cover bodily injuries, property damages, and even both.

Conclusion:

Other insurances such as life insurance, health insurance provide coverage only to the policyholder/the nominee in case of life insurance. In the case of family/group health insurance, the benefit can be availed by all the members of the family. Whereas, in a Car insurance policy, anyone injured/the property damaged can be covered. Hence, apart from covering people's life, it also covers your vehicle. So, it is mandatory and worth buying a car insurance plan while purchasing a car itself.