Benefits of a Motor Car Insurance in India

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There is not one but many benefits of having a Motor Car Insurance in India. Some of them include the assurance of being insured against risks that arises when you own a car, the assurance of complying with the provisions of the Motor Vehicle Act and the assurance that in case of need you are adequately indemnified for losses incurred. Having a Car Insurance can help you in the following way:

• Abide by the Laws governing a motor vehicle

The Motor Vehicle Act has laid down third party insurance as mandatory for all vehicle owners.. Thus by availing a motor insurance policy, you will comply with the requirements of the Act.

• Covers your legal liability to third parties

In case you meet with a mishap and it is found that you were responsible, there is a chance that you have to pay to the third party injured in the incident. In such a case, a Motor Car Insurance comes as a financial back up and takes care of the related expenses incurred by the injured Third Party.

• Cover of Damage to your vehicle

Again in the event of any mishap, the vehicle is bound to get damaged. Repairing and replacement of parts involves a huge cost and is usually a big burden on anyone’s pocket. Here again, your Motor Car Insurance can take care of accidental repair expenses. Such an arrangement ensures that you do not get into a financial difficulty and that your car is back on road as soon as possible.

A Motor Car Insurance can cover the following risks for you:

1. Damages to the car on account of a fire, explosion, lightning or even a self-ignition
2. The loss that occurs to an owner in case of a burglary or housebreak
3. Expenses that occur in case your car is damaged during a riot or strike
4. Expenses that occur in case the car is damaged due to an earthquake
5. Expenses that occur in case the car is damaged due to terrorist attack
6. Coverage of expenses in case of damages that happen whilst the car is in transit

A car Insurance however excludes coverage of the following:

1. Any damages occurring due to normal wear and tear and depreciation
2. Motor car damaged by a person who was under the influence of alcohol or any other intoxicating substance
3. Damages to a car when driven by a person without a valid driving license
4. Damages to the car when it was out to some commercial use
5. Damages occurred when the car was used for any races

Some of the best Motor Car Insurance Policies in India are available online. It is easier than ever before to find and buy one. Choosing a policy can however be a little tricky. Drawing a comparison between some of the best ones can give you a fairly good idea. Choose one that gives you the maximum coverage with the most affordable premium.