Does your vehicle have third-party insurance? All vehicle owners in the country must have vehicle insurance. Some people opt for insurance to avoid traffic fines.
Accidents are unpredictable and can cause harm to others or be caused by natural disasters. Insurance companies may reject your claim if you do not have the necessary coverage. Therefore, it is essential to consider carefully taking out a comprehensive policy.
Third-Party Insurance: This is not just a legal requirement but a financial safety net. In the unfortunate event of an accident, the third party whose vehicle is damaged or injured could be left with a hefty bill if they don’t have insurance.
As the driver, you could be responsible for covering all costs, so it’s advisable to have this insurance.
How to claim: If you are in an accident, it’s crucial to inform your insurance company immediately. Delaying could result in your claim being rejected.
Remember to obtain a copy of the police FIR and attach it to the documents you submit. The insurance company will then send a surveyor to assess the accident’s impact, and the claim will be based on their report.
Precautions: Thoroughly research the various types of motor insurance available and make an informed decision.
Before purchasing insurance, consider factors such as cashless garage networks, premium rates, add-on features, the insurer’s reliability, and coverage.
It is also important to note that driving without a license or driving under the influence of alcohol is a violation of the law, and coverages will not be applicable in such cases.