Do You Need A Car Insurance For Your Second-Hand Car?
What is insurance for a car?
If something bad happens to your car, car insurance will cover the costs. It can cover damage to property, injuries to people, or the passing away of the insured person. The policy covers more than just physical damage. It can also cover legal actions taken against car owners.
In addition to helping with money, car insurance can pay for all legal costs that come from third parties. There are two kinds of car insurance, based on how much coverage the policy gives. They are third-party liability insurance and full coverage car insurance.
You can buy car insurance both in person and online. You can get car insurance online through a mobile app or by going to the website of the insurance company. There are many policies on the market, which means that each person can choose an affordable car policy that meets their needs. When buying car insurance offline, on the other hand, you have to go to the insurance company in person.
Why is it important to make sure your used car is insured?
In India, it is against the law to drive a car without insurance. The Motor Vehicles Act of 1988 says that every driver in India must have third-party liability car insurance. The coverage that comes with a comprehensive policy is different from the coverage that comes with a third-party policy. Damages to the insured’s car are not covered by third-party insurance. Comprehensive car insurance, meanwhile, covers a person’s car in more ways.
Here are some issues that could come up if you buy a used car and don’t have car insurance:
Risks from outsiders
If you get involved in an accident, you will have to pay for the repairs and medical bills that are incurred. Comprehensive plans and third-party car insurance can both cover risks to people other than the driver. *
The insured car was stolen
Car theft is a very common crime that happens in India. By getting car insurance, you can protect yourself from this kind of crime. If your car is stolen, your insurer may pay you the right amount if you chose the right Insured Declared Value (IDV) when you bought car insurance. *
India has a lot of natural disasters, such as floods, earthquakes, landslides, and rockslides. They are hard to predict and can cause damage that can’t be fixed. So, if you buy car insurance, you can protect your car from natural disasters. *
Things to think about when getting insurance for a used car:
Transfer the insurance policy
You can’t change the type or features of your car insurance before the policy period is over. Before getting car insurance, it’s a good idea to change the name on the policy to the new owner’s name.
Check the history of the claim
Before you buy a used car, it’s a good idea to check with the insurance company to see if the information given by the previous owner is true. By giving the insurance company the policy number, you can find out what claims have been made on the car in the past. Also, you can read the policy wording to learn everything you need to know about your plan’s coverage and how to file a claim.
To sum it up, you need to insure a used car to protect yourself from the risks that come with driving an uninsured car. Also, in order to follow Indian law, a car needs to be insured. And remember to do your car insurance renewal online in a timely manner if you want to stay protected.
* Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.