Why it is necessary to take vehicle insurance 2019 | Doubt about insurance is normal for the common people, their mindset is like why i have to pay for insurance which is only for the vehicle why it is so mandatory which is set by the government world wide. lets know why this is compulsory that has been set by major countries.
If you buy a vehicle which is car or bike or what ever insurance is compulsory where nowadays many countries including India has been setting nearly 5 years coverage for the insurance of the vehicles, yes if you buy a vehicle the insurance will be covered for long term which is 5 years. Which is also a good one because you can stay on the same insurance company for the claim, but don’t know about terms and conditions for five years. In our old insurance companies they will allow only 2 or 3 claims per year exceeding them will make delay to claim and improper response.
OK, lets come to the point insurance not only covering our vehicles it also covers our life and the opposite party life too !, yes for that only government urges us to put insurance. For example if you own a new bike which is worth of insurance 1500.rs then your claim able value is Rs.1,50,000. So if you had an accident this amount not only covers our bike but opponents life too, If you have made an accident and opposite party was heavily injured your claimable amount will cover for his medical facility too.
Of course if the amount exceeds the claimable amount you have to pay for it, So for saving our life and opposite victim life the insurance has been set compulsory by world wide countries. Additionally you have to check because some of the insurance companies won’t cover the third party usually these kind of insurance are so cheap and not claimable easily. Kindly look after the review before you go with a company.