Benefits of a motor insurance policy

What Are The Benefits Of A Motor Insurance Policy?

Travelling on today’s roads is no mean task. You have to be really smart as you move across the streets. The bumper-to-bumper traffic puts you at a risk of encountering an accident any time. Furthermore, with rising repair costs, if anything were to happen how you will cope with the situation. Your only aid under such circumstances is a motor insurance.

The Benefits Offered By A Car Insurance Policy It offers coverage for various types of risks that you are

likely to face while driving. An exciting new car can be a real pleasure to drive but what protects you against losses when using it is your car insurance policy. A basic car policy is inexpensive and offers you a wide range of benefits such as: • If your vehicle is damaged in a man-made or natural disaster it pays for the losses • If your vehicle is stolen it pays for the losses • In case the vehicle hits another vehicle causing damage to that vehicle or injury to the driver it pays for the expenses incurred • In case the vehicle damages a property in an accident it pays for the losses • In case of personal accident wherein there is loss of life or permanent disability to the driver it pays for the losses These shows, how useful car insurance can be if an unexpected incident happens on the road. These are the basics benefits that you get from the policy and there are many add-ons that you can opt for extra coverage.

Examples of such add-ons are invoice price cover,

depreciation cover, lost key cover, medical treatment cover and much more. Through such add-ons you can customize your policy and get more coverage.

Transfer Insurance When You Sell The Car What if you decide to sell your car and there is existing insurance available on it. What can be done about it? Car insurance is very flexible. It allows you to transfer the policy to the new owner of the vehicle.

Bring down Policy Cost with No Claim Bonus at the Time of Renewal A basic car policy is inexpensive, but if you opt for addons the premium cost will rise. However add-ons prove to be very useful in bringing down different types of expenses. You can also bring down policy cost by fitting a ARAI-approved anti-theft device in the vehicle. At the time of renewal if no claim is made in the previous year, the no claim bonus can be used to bring down policy

costs. The easiest way to get cover is by applying online.

You can do the application in just minutes and avoid going to the company or filling huge paper forms. Once your application is approved, policy documents will be sent by post or to your email id.