Car accidents happen all the time, and roads have increasingly become dangerous due to surging instances of road rage, theft, and traffic. According to the U.S. Department of Transportation’sTransportation’s National Highway Traffic Safety Administration report for 2017, there were approximately 34,247 crashes in the United States alone. These crashes had 52,645 cars involved, leading to the death of 37,133 people. This proves that nobody is safe on the road, and safety laws should be complied with at all costs.
The Motor Vehicle Act has made it a compulsion for every car-owner to purchase third-party insurance to purchase their brand new or second-hand car. You can opt-in to buy a comprehensive cover through car insurance policies.
However, there are usually two kinds of policies available in the market. One is an insurance policy that protects you against any legal or financial responsibilities towards any third party. Another approach – comprehensive cover insurance – will provide you with compensation for any damage to your vehicle occurring through the causes like accidents, theft, or natural disasters. It will also offer you protection and cover any third-party liabilities. Here are five significant benefits for you of investing in a car insurance policy:
1. Damage Insured Car
If your car gets damaged due to a road accident or ignites, you can be assured of financial protection. Your car insurance policy will compensate for any repairs needed in your car after an accident. Car insurance will also cover any losses by inland waterways, rail, fleet, or air while in transit.
Similarly, if you reside in an area that gets heavy rains or storms, your car’s mechanical parts may get damaged over time due to bumpy, patchy roads caused by the severity of the weather. Your car insurance provider can analyze the damage’s severity and sometimes compensate for repairs or replacement of car components.
2. Cover Accidents
A road accident can be a tragic event for you and your loved ones, and end up in you needing medical assistance. You should not have to worry about the financial strain while going through such a tough time. Car insurance will offer you pre-determined compensation for any accidental damages and help you recover financially after such an unfortunate event. You will also get personal cover in some policies in case of road accidents. This way the insurance company will also pay for your medical bills along with your car repairs and protect you in case of total disability or death due to this accident. Some policies will even extend to providing coverage for other passengers for a pre-set amount. However, the extent of coverage that you can claim will depend entirely on your insurance plan.
3. Access to Garage Networks
Car insurance companies have an established network with various garages around the country. You can get cashless repairs done from these garages in case of need. Your vehicle’s repair and maintenance services will become more convenient if your car undergoes any damage. This can prove very useful when you need to get certain repairs done immediately, and can even protect you from a potential accident by preventing your car’s health from deteriorating.
4. Pays Third-Party Liabilities
If you have a car in installments or damage the third party’s property in a car accident, the car insurance company will compensate for the financial loss involved. Your car insurance policy shall also protect you from any potential legal liabilities in case of the injury or death of a third party. This will help you greatly in any lawsuits or legal matters as well.
5. Get a No Claim Bonus
Having car insurance in place will enable you to have a no-claim bonus (NCB). The NCB is a form of premium discount offered by vehicle insurance companies for customers who have not made any claims for compensation throughout their term of insurance policy. The customer is eligible for claiming each year’s benefit that went claim-free.
In specific long-term policies, it is also possible to transfer your NCB to the next year of your policy if there were no claims made in the past year. Some insurers will also offer you a premium rate or higher no-claim bonus on purchasing long-term policies compared with short-term policies.
6. Save Time
The fallout caused by a car accident is unforeseen and can be incredibly time-consuming to deal with. With an adequate insurance policy in place, you can avoid the lengthy and draining process of negotiating with other drivers involved in the accident as insurance companies manage the costs of repairing. An adequate car insurance policy also helps with vehicle towing, component replacements, and covering the costs of damages to other drivers involved in the accidents. You will only have to make a car insurance claim, and the insurance company will handle the rest of the process for you.
While choosing an insurance policy for your car, you must consider all the available options to get the best deal. Insurance companies usually have their service on their website, making your insurance search accessible. As a result, you can get auto insurance quotes from sites like allstate.com that meet your budget. In addition, reaching out to customer support at your shortlisted companies can let you find the most convenient, affordable, and user-friendly policy. The staff can also help you in case you need alterations in your chosen insurance plan, or you wish to get a custom plan for your vehicle.
Reputable insurance providers also have trained personnel who can help you with your concerns and queries once you have signed up for their insurance. In addition, some companies have the option of live chat, which will enable you to get your issues resolved in a short period. This availability of experts on board will make your insurance claim process much more accessible and stress-free and provide you with complete peace of mind.