Vehicle insurance provides financial protection in case of accidents or damage to your car. It typically includes two main types:
- Third-Party Liability Insurance: This is mandatory in many places. It covers damage or injury you cause to others, their property, or their vehicles in an accident. It doesnt cover your car.
- Comprehensive Insurance: This covers damage to your car and third-party liabilities. It includes incidents like accidents, theft, vandalism, natural disasters, and more.
Key points to consider:
- Premiums: You pay regular premiums to the insurance company.
- Deductibles: You may need to pay a portion of the repair costs before the insurance kicks in.
- Coverage Limits: Insurance policies have coverage limits. Ensure they meet your needs.
- Add-Ons: You can customize your policy with add-ons like roadside assistance or zero depreciation cover.
- No Claims Bonus: You can get discounts on premiums for claim-free years.
- Policy Renewal: Keep your policy active by renewing it on time.
- Legal Requirement: In many places, its illegal to drive without insurance.
Vehicle insurance safeguards your finances and offers peace of mind on the road. Make sure to choose the right coverage for your needs and budget.
