How Can Car Insurance Help Mitigate Unexpected Expenses Arising From An Accident? The fast cars on the road are undoubtedly a pleasure to ride. You will certainly be tempted to buy one that is packed with power and torque. However, today’s traffic congested roads pose heavy risks and the only why you can face such risks is with car insurance. The law deems it mandatory to have it before taking the vehicle on the roads. It provides vital protection against various types of calamities that can affect you and passengers while driving. The compensation that it provides can be used to mitigate financial losses that cannot be otherwise coped with.
Car Insurance Offers Protection against Different Types of Road Perils
What are the various risks against which car insurance offers protection? The foremost risk that it covers is accident. An accident can be caused by crashing into another vehicle or structure on the road. It can result in no injury, slight injury or fatal injury. In such situations the medical costs can be very heavy to deal with. The repair costs will also be high. Car insurance compensates for such losses, thus bringing them down so that you can cope with them. There are many add-ons benefits that you can opt, which are very helpful in reducing costs that you might incur if an unexpected situation happens on the roads. In the event of an accident, a car accident claim can be filed. The claim form should be filled with relevant details and necessary supportive documents must be submitted. The insurance company will review your claim form and check documents after which they will credit money into your account. You can make a claim for any of the risks that the policy covers and also for add-ons that you have opted for an extra charge. The period of coverage is one year, after which you have to renew the policy. If you renew before the due date
there will be no inspection done on the vehicle. If no claim has been made during the previous year, the no claim bonus can be used to bring down premium costs. Premium can also be reduced if you have fitted an ARAI inspected anti-theft device on the vehicle. The easiest way to get car insurance is to apply for it online. Online application saves time and efforts because filling the form can be done at your convenient timings from your home. There is a calculator available in the site which can be used to find out premium cost for required coverage. Once you get a quote, apply for a policy instantly. There is no paperwork involved, just filling a few details in the application form will do. Payment for premium can be done through debit card, credit card or net banking facility.