Have you ever taken the wrong train and ended yourself in a place where you didn't have much money? Have you ever gone scuba diving without a guide or the correct gear? Isn't the answer to both of these questions a resounding no? In each of the aforementioned scenarios, you will undoubtedly require the assistance of a rescuer. As a result, in these sorts of situations, you do not rely on chance. However, it astounds us how people can be so brave when it comes to driving without vehicle insurance.
According to a recent estimate, over 55 traffic accidents occur in India per hour on average. Who is to blame when such an accident occurs? Streetlights that aren't working? On the road, do you see people walking blindly? Or is it just their terrible luck? No one wants to accept responsibility for the harm done and pay for it out of their own wallet. This is when auto insurance comes to the rescue! Always there to help.
Did you know that in India, automobile insurance is required? Apart from a personal option, automobile insurance is not mandatory for all car owners in India. Car insurance is essentially a contract between two parties, namely the insurance provider and the vehicle's owner. This contract safeguards your vehicle against financial loss in the event of an accident or theft. The insurance provider agrees to cover the loss in accordance with the policy's terms.
You can’t Escape the Law!
As an Indian citizen, you must understand why auto insurance is required in India and what the penalties may be if you do not have it.
If you drive without a legal automobile insurance coverage in India, you will be subject to the following penalties:
>Now that you know why auto insurance is required in India, let's look at the advantages that insurance may provide.
Benefits of Car Insurance :
Anyone might become stranded on the road as a result of a car accident or engine breakdown. In such situations, an automobile insurance coverage comes to the rescue.
Now, the next time someone asks you, "Why is vehicle insurance essential in India?" or "What are the benefits of car insurance to me?" you will understand the critical need of having a car insurance policy in India.