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Your vehicle may be your long cherished 'Palace on wheels' or one that can barely be called a four-wheeler but the very fact that it has to ply on rough and tough Indian roads, should be reason enough to insure it. Consider what your vehicle has to endure - potholes, open manholes, puddles, untarred roads, our traffic management system, poor pedestrian management, absence of footpaths for pedestrians, jaywalkers and an increasing number of accidents are few of the stark realities.
Footpaths:
As footpaths are encroached by hawkers, pedestrians have a tough time dodging between vehicles to reach the other end of the road. Large potholes and manholes are a common sight and during the monsoon the situation can get only worse causing untold damage to your vehicle.
Drunken driving:
Drunken driving is another very common feature. Be it a car, a two-wheeler, or even a truck, drunken driving is one of the major reasons for increase in accidents. Though drunken driving is a punishable offence the penalty has hardly proved to be a deterrent.
Reckless Driving:
Besides, rash driving by youngsters is another of the dangerous realities that you should consider. Majority of the youngsters drive recklessly caring little for the law, causing serious accidents resulting in loss of life or limb.
Theft:
Cases of stolen cars are on the rise. Experts in stealing cars are well aware of the loopholes that can be exploited and accordingly have also been successful in manipulating with the chassis number of vehicles in order that they are not traced.
Fire:
Other than these there is also a danger of fire or theft of your vehicle. Vehicle insurance under such unsafe conditions is a must not only to cover risks towards yourself and your own vehicle but also to cover the financial liability that may arise from an accident in which the other party is injured.
Consider the exorbitant cost of repairs that you would have to pay to the other party in case of an accident. Besides if the accident involves hospitalisation too, the expenses can go through the roof.
It would be a great burden if all these costs had to be borne by you. But if your vehicle is insured the insurance company can be of great help. It can indemnify you against such losses and the financial liability that would have been solely on you is taken over by your insurance company.
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