The increasing number of motor vehicles plying on the roads in India shows that it is a favored form of transport for Indians. That is because of the independence and comfort of travel that motor vehicles provide us with. But with the increase in the number of vehicles, road mishaps have also increased. So, to protect the lives and properties of people the Government made it compulsory for car owners to have at least a basic third-party insurance to be able to drive on the roads in India.
Owning a car has become a necessity nowadays due to the convenience and ease of travel it provides. The ever-increasing traffic in the cities is proof of this. With the purchase of a car, insuring the car is very crucial. The Government has made third-party insurance for four wheelers compulsory. Third party insurance is mandatory in India, and the premium for the third-party insurance is fixed by the Insurance Regulatory Authority of India (IRDAI). The premium for the other insurance plans is fixed by the insurance companies
There are several insurance companies in India that offer a variety of insurance options for four wheelers with different features and many benefits. This can leave the car owner confused as to which plan to choose that is best suited to his car and which does not cause him financial burden. So let us consider the various features of car insurance price in India and what are the factors that affect it and what are the features and benefits of the car insurance price list.
Life insurance is a contract between the policyholder and the insurance company in which the insurance company promises to pay a specified sum to the beneficiary of the policy in the event of the policy holders’ untimely demise. The policy holder on his part has a duty to pay the premiums on time as mentioned in the policy document.
The low penetration (only 2.76%) of insurance in India shows that many people are not aware of the functions and benefits of life insurance. But a financially savvy person is well aware and always opts for a life insurance policy to protect his family and dependents from financial difficulties when he is not around anymore.
Everybody wishes that their loved ones are well provided for even when they are not around. Insurance is the answer to this. Creating a sound financial plan when you have a steady income not only helps the family during unprecedented stressful times but also helps you plan a comfortable life even after retirement. Buying an insurance policy during your earning period is a wise financial decision that can bring comfort and financial support to you and your family.
We are so excited when we buy our first car, looking forward to long drives, weekend road trips or quick rides with loved ones. We are eager to see our cherished dreams come true. In the enthusiasm to drive, you should not forget the safety of your dear ones and your car. The most important thing to do is buy car insurance. Apart from being a mandatory requirement, car insurance offers a host of benefits meant for protecting you and your prized car. Read on to learn about the benefits of car insurance and the best car insurance for your car:
Innovations in the automobile industry have made it possible for diesel to be used for passenger cars as much as trucks and other heavy vehicles. It is no wonder that car manufacturers are coming up with both diesel and petrol. Both have their pros and cons and it is up to you to decide which suits you best. But whether you have a diesel, petrol or electric car, it is mandatory to buy car insurance along with the car. Driving without insurance is illegal in India. But does car fuel affect your car Insurance? Yes, it does. So let us discuss in detail the effect of fuel as well as other factors that influence your car insurance premiums.
Owning a motor vehicle is most favored by people in India because of the convenience of transport, the time it saves and the freedom to move from place to place. It is not a wonder that motor vehicles have increased manifold times during the past few years. With the increase in vehicular transport, there has been an increase in the number of accidents on road, leading to huge financial burden not only to the vehicle owner but the other parties who are involved in the accident.
As a first-time auto insurance buyer, you may not know much about insurance. The automobile dealer will tell you that the third-party insurance is mandatory in India as per the Motor Vehicle Act. He will also advise you to buy the comprehensive insurance as it provides better coverage than third-party insurance. You will feel confused and decide on whatever the dealer advises. But there is more to insurance than just getting protection from the authorities.
Motor insurance is essential for safeguarding your vehicle, whether it is a private or commercial car, from potential losses or damages when a mishap occurs. Insurance for the car should be based on the risk factor. A commercial car is in usage more than a private car, so the insurance coverage for it is different from private car. It is important to know the features as well as the difference between the two and the factors that affect both types of car insurance policies.
Disclaimer: This article is for information purposes only. The views expressed in this article are personal and do not necessarily constitute the views of Nuuu.com. Nuuu.com and/or the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.
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