Owning a car is mandatory for an individual. Having car insurance is mandatory by law. It is considered illegal to drive a car, without having it insured.
Driving a car is very easy. However, there are chances of accidents occurring some time or the other. Accidents may vary. Accidents may cause damage to the car, injury to the person driving the car, damage to the car belonging to another person or injury to the person driving the other car. In the worst case, death may also occur. To meet all such unfortunate situations, car insurance steps in to bear the expenses involved in such circumstances. Car insurance is most important in case of damage to the car or any other accident or death on driving the car. Damages may also occur due to theft and fire. Damage to the car may also occur due to natural calamities such as earthquake or cyclone.
- Car insurance helps to meet lawsuits and legal fees that are involved when an accident happens.
- It helps to cover repairing expenses and to bring the car back to running condition.
- Car insurance helps, when a theft occurs or when the car gets stolen.
- Car insurance is most beneficial in case of a death occurring due to the accident. The survivor will get the monetary benefit.
- Unexpected happenings and damages are met according to the terms of the car insurance.
Having car insurance is of utmost necessity and hence it is made mandatory by law. It is beneficial to the person owning the car. The financial situation is not always the same for a person and with the help of car insurance, the owner of the car will be able to meet all damages to the car, even in the worst-case scenario.