Importance Of General Insurance Policies And Car Insurance
Can you think of living a better life today without insurance? Certainly not! Had not general insurance companies existed, financial worries would have taken a toll on many a life. Yes, insurance is a shield, a protection, a financial cover for many unexpected happenings related to your health, accident, assets, home, and the like. Imagine your luxury car costing over Rs. 25 lakh is stolen. Visualize getting hospitalized and a surgery just draining your long saved money in the bank leading to financial crunch. Or just ponder about the damages caused due to a sudden fire that engulfed your house. With general insurance policies, you get financial protection against all aforesaid losses. You thus lead a worry-free life if you are insured! Paying the meager premium amount won’t affect your finance at all. The premium amount of any general insurance policy depends on the value as well as benefits covered. More comprehensive the general insurance plan is, higher will be the premium and so is the returns. For example, if you have a vehicle the value of which is Rs. 3 lakh, the premium amount for the motor insurance will be much lesser than the premium amount of a vehicle costing Rs. 20 lakh. All insurance policies other than life insurance fall under the category of general insurance.
Third party liability auto insurance policy is legally mandatory in India. This is stated in Section 146. So, if you go driving do not forget to take your motor insurance documents along. In case you are stopped by a traffic police and asked to show all requisite documents and you fail to show your motor insurance policy proof, you will only be fined. Even if your car insurance policy is not renewed, you will be fined. Moreover, expiry of a policy will not entitle you to any of the benefits covered. Before it is too late, do get your car insurance policy renewed. And if you don’t still have a motor insurance although you have a vehicle, you are only taking risks not to mention violating the rules of the law.
Which car insurance policy is the best? Which company should you go for? Do you think you need to go through motor insurance quotes before you buy one? You will get all answers online. Conduct a research online and find out which general insurance company offers the best rates with the maximum of benefits covered.
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