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Car insurance

Ravi Desai (Others) (103 Points)

08 February 2013

Is it necessary to have a insurance for my car?

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6 Replies

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 08 February 2013

yes it is very much necessary. Infact car insurance is a mandtory requirement nowadays. You will be also requried to produce you current insurance policy to the concerned authorities in case of theft, checking of cars by RTO officers.

Also if you have a valid insurance policy & if your car has met with any accident, or if any injury is bieng occured to any third party becasue of your car, then you claim the amount as from teh insurance co for the damage of your car & also towards third party liability.

Srinivasan M (Professiona) (46 Points)
Replied 21 March 2013

According to Indian Motors act Insurance is must for all the vehicles on the road and car is also no exception for that. All the vehicles insurance comes under General insurance and it is valid for a period of 1 year.

Kethki Narayan (Owner) (59 Points)
Replied 28 March 2013

Yes, car insurance is mandatory that you must have as per Indian law. But, I think should buy car insurance not for the sake of buying it. It is very essential financial instrument when it comes to provide coverage for lawsuits, including legal fees brought against you as the result of an accident and damage caused by other than an accident for example, theft, fire, etc. So, it better to have car insurance policy

Gaurav (Own Business) (151 Points)
Replied 06 August 2013

If you think car insurance policy is not mandatory, and you can quite that. So think once more time before quite. Suppose you have an accident(hope you will well!), but car is damaged very badly. So what's you think now. Will you bear all the expenses. Hope, you don't want to spent lot of money once again.

Car insurance policy(provided by health insurance companies) is the solution of problem to safe your money whenever you need to expence on your car after somthing miss-happened with your car. So car insurance policy is highly recommended for you from my side. And. it would be more better if you get comprehensive car insurance policy because it covers claim of complete car including car engine damage, whereas simple car insurance policy doesn't cover any claim against any damage/issue with your car.

Hope, you better know.

Raj Kanwar (MBA) (111 Points)
Replied 14 November 2013

Yes we all need to have motor car insurance in our lives. Some obvious reasons include high rise in road accidents, natural calamities, theft and post-accident liabilities. It is always advisable to purchase comprehensive motor car insurance in India that covers you for expected as well as unexpected eventualities.