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Advantages and Disadvantages of Car Insurance Policy 

Due to huge traffic complications, car accidents are often in India. As per national crime records bureau, there are 4,96,000 traffic accidents in 2015. These statistics reveal that how we are prone to accidents. Accidental claims are costly to bear by individual solely, the best way to avoid a car and personal damage expenses are to get car insurance policy. An insurance policy is also helpful to claim for medical expenses too.  

Below are the financial advantages of having a car insurance policy online

Assured for financial liability

Are you sound to pay for huge accidental damages? If the answer is no, then choosing the best car insurance policy is the right option to get rid of huge colossal damage costs

Assured of repairs and replacement

Car insurance authority analyses the severity of damage and concludes whether to repair or replace the spare parts. Car insurance policy saves your vehicle for these denoted car damages.

This rainy season might cause more damage to your vehicle due to bumpy and patchy roads. This damaged road impacts the mechanical parts of your vehicle.

Legal Requirement

Car owner needs a liability assurance for their new owned car, having a right insurance policy protects you from legal clause.

Assured for medical claims

In case of severe damage to driver or passenger, an individual cannot bear the heavy medical expenses. Having an insurance policy assures the medical expenses are covered to support financial expenses.

Protects driver and passenger liability

If there is any damage to driver and passengers in case of accidents, your insurance policy covers the damage expenses.

Now you can drive on roads without any stress due to perks involved in the car insurance policy. Never be too reckless driving in back-up with an insurance policy, there are numerous advantages of car insurance premium. Know how insurance helps you from unforeseen damages.

Disadvantages of car insurance policy

People instinctively buy the car insurance policy assuming insurance protects your vehicle. But there are disadvantages of car insurance policy when you opt for the best car insurance policy online. Insurance representatives hide the specific clauses, this, in turn, reflects you at the time of claim settlement.

Primary and the major disadvantage of car insurance is your policy not covers the entire vehicle. Only the specific parts of the car are under damage coverage, policyholder needs to verify hidden clauses in the document keenly before buying the policy.

Most of the insurance companies take a time frame to settle the claim amount, this is the problem most of the policyholders are facing.

Opt for cashless claim settlement for hassle-free claim settlement.

Motor insurance plan is mandatory to protect your vehicle from financial burden in case of any damages. Be careful in choosing the auto insurance which maximizes the benefits in terms of optimum claim settlement. Check for the ratio of fair claim settlement for every insurance company and get the best insurance policy.  


 

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