Driving a vehicle is not a luxury slightly it is a big responsibility. Even many people consider driving as a status image particularly in a country like India, where people consider in showing off. With the growing revenue slabs, having a vehicle is not at all a big deal now a days and other people can easily afford to have bikes and cars. It not only depicts the status of a society but also will increase the mobility and therefore saves time. Driving is eliminating the dependency on the public transport too.
It's true that driving has made our lives comfortable however on the same time it additionally pushing us towards a dangerous life as well. As someone rightly said that "The speedway ends on the cemetery". On the name of show-off, people not only put their own life into danger but in addition harm others as well by over-speeding their vehicles. The daily reports of accidents as well as deaths within the newspaper is now a typical thing. People are dropping their lives in road accidents by breaking the site visitors guidelines and by not following the driving ethics in addition they put lifetime of others in danger. Moreover, the price of spare parts along with the high repair costs squeezes your pocket which proves that having an excellent Motor Insurance coverage is essential these days.
Motor Insurance is principally purchased for the vehicles running on the roads with the primary goal of providing a protection to the vehicle and the driver in opposition to any physical damage in case of accident. There are a lot of factors for which buying a Motor Insurance is important:
Necessary by Law: The foremost reason of shopping for a Motor Insurance is that it is obligatory by law. According to the Motor Vehicle Act, it is necessary to have a Third-party insurance. The police have the correct to check your vehicle's documents like PUC, license and insurance policy, at any level of time. If you are unable to provide paperwork, you will be in trouble. So, it is advisable to purchase a motor insurance before you hit the road.
Loss and Damage to the vehicle: All of us know that the individuals haven't any driving sense in any respect and the kind of visitors management we now have in our country, there's hardly a day you without banging of vehicles cause damages. The primary reason for having motor insurance is that it covers the expenses incurred because of any loss or damage to your vehicle. Hence it is always good to be on a safer side and have a motor insurance before riding your bike or automotive on roads.
Reduces your liability: Third Party Liability (TPL) motor insurance is mandatory in India, which protects you from the legal implications of an accident caused by you. TPL means that should you cause damage caused to a different individual and his/her property in an accident, the insurance will pay for their remedy and prevent from the legal bearings.
Hospitalization: Not every vehicle owner is lucky sufficient to get just few cuts and bruises in an accident. Some accidents put you in a tough situation and it is advisable be hospitalized. In that situation, your motor insurance firm will pay your hospital bills, instead of shelling out the high hospital and remedy costs out of your own pocket.
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