Gone are the days when owning a car or bike in India was a luxury. Thanks to rapidly rising disposable incomes, most households are able to afford more than one vehicle. Having your own vehicle gives you the freedom to go wherever you want, whenever you want, without having to worry about crowds or timings of public transport. However, owing to the boom in traffic, driving indiscipline and poor road conditions, driving has become a risky affair. Cases of traffic violations and road accidents are reported in the news on a daily basis. Hence, having Motor Insurance has become more important than ever. Although having Third-Party Motor Insurance is mandatory in India, only Comprehensive Motor Insurance can offer you complete financial coverage against numerous risks on the road. If you are still not convinced, here are five reasons why having a Comprehensive Vehicle Insurance policy is a must: –
1. Compensates Financial Damages
Besides being costly, vehicles also have high maintenance and repairs costs as well. Even a small dent on your car or scooter can set you back by a considerable amount of money. If you have Motor Insurance, you don’t have to pay for these repairs from your pocket as your insurance provider will offer compensation for it. At Finserv MARKETS, we have cashless Motor Insurance policies which give you freedom from the hassle of arranging cash during emergencies. The insurance provider will directly make payments to the garage on behalf of its policyholders, provided the vehicle is repaired at a network garage.
2. Reduces Your Liability
A Vehicle Insurance policy offers coverage against any legal ramifications of an accident your vehicle has been involved in. For instance, if your vehicle meets with an accident which results in injury or death of a third party, your Vehicle Insurance policy will cover the cost of treatment.
3. Offers Compensation for Accidental Death
Death is the most unfortunate outcome of road accidents. In case the worst happens to you, a Motor Insurance policy can help pay for your family’s expenses after the unfortunate event, as a death cover is also included in motor insurance.
Without a doubt, Vehicle Insurance offers coverage against numerous perils associated with owning and driving a vehicle. Whether you want to be safe or sorry, the choice is yours! At Finserv MARKETS, we have affordable Vehicle Insurance plans that offer broad coverage and cashless service. Buy Motor Insurance online with Finserv MARKETS and insure your vehicle against the dangers of the roads.
Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment, and exclusive EMI store, all under one roof- anytime, anywhere!