Car insurance is legally a compulsory insurance, and therefore it is very important to understand the answers to some important questions related to car insurance, such as –
Is Car Insurance Necessary? If yes, why?
What are the benefits of Car Insurance?
How many types of car insurance are there?
And what car insurance should you take?
So let’s first know in today’s post that –
The person insuring the car insures that value from the insurance company on the basis of the price of the car (insured declared value), and in exchange for it, the insurance company, on the basis of declared value for the purpose of car insurance, Premium charges are to be paid,
For example – if the car’s insured declared value is 5 lakhs then the insurance can be made up to Rs 5 lakhs, and it is to be paid premium on the basis of 5 lakhs of insurance,
The point of note is that – the lower the insured declared value, its premium will be lower and if the insured declared value is high then the premium of insurance will be higher,
Why is CAR INSURANCES very important?
In such a case, if you do not have car insurances, and this kind of incident happens in which your car is damaged, then its repairs may have a very bad effect on your financial situation,
The car is a property, and the loss of car due to the car being stolen or burned by fire or any other reason means the loss of your property,
So it is better that you do the car insurances, so that you can avoid such losses,
Benefits of car insurance
Damage to damage to car damage,
Indemnification of losses due to theft of the car, fire, accident, riot, natural calamities like electricity, falling earthquake etc.
The benefits of personal accident insurance,
Indemnification of financial liabilities arising in the event of injury to the third party engaged in the accident, or the loss of its death or property
CAR INSURANCE TYPE
If car insurance is kept in mind, then there are two main types of car insurance –
ZERO DEP CAR INSURANCE – called zero deprecation insurance; If you take such insurances, the total cost of your car remains insured, and if you claim, you get the full expense from the company side,
There is no importance in the value of your car due to the decrease in the value of your car every year, if you are insured, if the full loss is claimed, then the benefit of the loss of the entire lot is available, and the insurance company raises the cost Is,
Without ZERO DEP CAR INSURANCE – In what is called Without Zero Depreciation Insurance or NORMAL CAR INSURANCE, in which the insurance company takes into account the reduction of the car’s value every year,
And at the time when the lot is claimed over the car, at the same time, keeping in mind the cost of the car, in view of the cost, compensates for expenses,
In this way you can not get complete compensation for LOSS in zero zero depreciation insurances
Which car insurance do you want?
Now come to your main question – what kind of insurance policy should you take, the answer is – you can choose your own personal finance planning, keeping in mind the ability to raise risk, choose better car insurance,
As we have seen – ZERO DEP CAR INSURANCE, your total loss is compensated by the insurance company, but its expenditure is slightly higher than Normal,
Whereas without the ZERO DEP CAR INSURANCE LOSS COVER is in accordance with the decrease in the value of the car, its cost (premium) is less than ZERO DEP CAR INSURANCE,
So the final decision is up to you – that, in view of your need, you can choose a better insurance policy,
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In today’s post I talked to you about the details of Car Insurance, if you have any questions related to this post, you can ask and comment. Thank You So Much For Reading This Article.