Car insurance is an important financial tool that keeps you and your loved ones safe in the event of an accident. This saves you from costly expenses and gives you peace of mind.
Car insurance in India is important for several reasons:
- Legal Requirement: As per the Motor Vehicles Act, 1988, it is mandatory for all car owners in India to have third-party car insurance. This means that if your car causes an accident and a third party suffers injury or damage, your insurance will pay compensation for them.
- Financial Protection: Car accidents can be costly. If you don’t have car insurance, you’ll have to pay out of pocket for repairs, medical bills, and legal fees.
- Peace of mind: Car insurance gives you peace of mind. Knowing that you and those close to you are safe in the event of an accident.
- Multiple coverage options: Car insurance offers a variety of coverage options. Which can be according to your needs and budget.
- Easily Available: Car insurance can be easily purchased online or through an insurance agent.
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