Why it is must to have insurance coverage for your very own car in India?

In this changeable or unpredictable life that we live today, we cannot foresee that what may happen in the next hour or second. With countless risks ranging from accidents, loss of vehicles, permanent disability car insurance is a comprehensive way out that helps us to be prepared in any unexpected situations. Under the Motor Vehicle Act, third party insurance is now compulsory for any new vehicle in India, whether you are using it for your personal use or any commercial purpose, your car needs to be insured with a motor insurance company. Apart from legal liabilities, a proper motor insurance plan offers financial security against accidents, theft or any other damage or loss. We should understand that third-party insurance coverage safeguards the owner against any legal liability occurring from any accident causing any permanent disability or death as well as any damage to the goods. But a comprehensive plan is a must as it covers up your car against any loss or damage caused to the car and its insured accessories as a result of natural and man-made catastrophe and mishaps.

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