Why Do You Need Car Insurance?

Keeping aside the fact that it is a legal requirement to have at least a third-party car insurance, it also protects your car – in case you have a mishap after that fight with your sister over who gets the bigger half of the muffin.

There are quite a few other reasons as well.

Covers third party damages

This is a mandatory insurance policy required by law. Insurance companies also cover damages to a third party’s property. In the event of an accident, you may be held responsible for some costs towards another person’s damages. This may be the injured person’s medical expenses, and compensation for the injured, amongst other expenses. In this case, your insurance company pays the cost incurred, instead of you having to pay it out of your own pocket.

Covers damages of your car

An insurance company covers the damages to your car in case of an accident. This immensely reduces the financial burden that you may incur, if ever you have an accident.

Protects yourself and your co-passengers

Insurance companies also have medical payments coverage. In case of an accident, you along with the passengers involved in the accident, may be covered for medical expenses depending on the policy. The insurance policy may cover hospital visits, doctor’s bills and surgery.