Is it necessary to buy rental car insurance?

Why do we need car insurance?

Driving a car is not a luxury but a huge responsibility. Although many people consider leading a status symbol, especially in a country like India where people believe in arrogance. With increasing revenues, nowadays the car is not a problem and people can easily buy bicycles and cars. It not only reflects the state of the society but also increases mobility and thus saves time. Driving also eliminates dependence on public transportation.

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It is true that driving a car makes our lives comfortable, but at the same time, it pushes us towards a dangerous life. As someone rightly said, "The highway ends at the cemetery." In the name of the show, people not only risk their lives but harm others by speeding up their cars. Daily reports of accidents as well as deaths in newspapers became commonplace. People die in road accidents, they violate traffic rules and do not follow driving ethics, and they also endanger the lives of others. Moreover, the cost of parts and the high cost of repairs put pressure on your pocket, which proves that it is important to have a good auto insurance policy these days.

Vehicle insurance is mainly purchased for vehicles moving on the road with the primary aim of protecting the vehicle and the driver from any bodily injury in the event of an accident. 

Buying car insurance is important for several reasons:

Mandatory by law. The main reason for purchasing car insurance is required by law. Third-party insurance is mandatory under motor law. The police have the right to check your vehicle documents such as PUC, license, and insurance policy at any time. If you cannot provide the documents, you will encounter problems. Therefore, it is advisable to purchase auto insurance before you go on the road.

Vehicle loss and damage

We all know people are worthless in driving, the kind of traffic management we have in our country, there is almost no day if you do not cause damage to vehicles. The main reason to obtain car insurance is to cover costs incurred due to loss or damage to your vehicle. Therefore, it is always beneficial to be safe and secure before you ride a bike or car on the road.

Reducing your liability

 Motor Liability Insurance (MTPL) is mandatory in India, which protects you from the legal consequences of the accident caused by it. OSAGO means that if you cause damage to another person and their property as a result of an accident, the insurance will pay for the costs of treatment and mitigate your liability.

Hospitalization

 Not all car owners are fortunate enough to have some cuts and bruises in an accident. Some accidents put you in a difficult situation and you need to be hospitalized. In this case, your insurance company will pay your hospital bills instead of covering the higher hospital and treatment costs out of your own pocket.

Pay to your family after your death

Some accidents lead to the death of the car owner, and they are the saddest result of a traffic accident. After the bread manager passed away, it was difficult for his family to make ends meet. Hence, a car insurance policy helps the family bear the costs after an accident.

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