A sneak peek into Car Insurance
In India, having car insurance is mandatory under the Motor Vehicles Act, 1988. The minimum requirement is to have third-party liability insurance, which covers damages caused to a third party involved in an accident. However, it is recommended to also have comprehensive car insurance, which covers damages to your own vehicle as well.
Car insurance in India typically covers a range of events, including accidents, theft, natural calamities like floods and earthquakes, and man-made disasters like riots and terrorist attacks. It may also include personal accident cover for the driver and passengers.
Without car insurance, you could face financial and legal troubles if you are involved in an accident or if your car is stolen or damaged. The costs of repairs or damages could be too high to bear on your own, and you could also be liable to pay compensation to a third party if you are at fault in an accident. Additionally, driving without car insurance in India can lead to penalties and fines, which can be quite steep.
Types of Car Insurance
The amount of car insurance you need depends on several factors, including your state’s minimum requirements, your vehicle’s value, your driving habits, and your personal financial situation. At Car Kharido Becho 24, we offer second hand car insurance on EMI. While this can ease up your work since we will do most of the paperwork but before that let’s see on what basis is car insurance classified. While there are many types of car insurance, a basic classification lands us at three types.
