As per the Motor Vehicles Act of 1988, it is compulsory for every car plying on Indian roads to have valid vehicle insurance at all times.
When you purchase the basic third party insurance policy, it will protect you from the expenses of third party injuries and damages.
Apart from road accidents, even if your car suffers from any damage due to natural calamities, fire, explosion, riots, acts of terrorism, strikes, or is even stolen, the insurance provider will pay the expenses.
One of the major advantages of having car insurance is the no claim bonus (NCB). Customer is eligible for this benefit for every claim-free year. This may be available as a discount on the premium, which makes car insurance even more affordable.
In case your vehicle is damaged due to an accident, fire, or self ignition, you are protected. Furthermore, if the car suffers losses due to burglary or theft, strikes, riots, or terrorism, your insurance policy covers these.
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