The importance of car insurance can never be undermined in a country like India, where the traffic is so busy and chances of a mishap are quite high at all points of time. Despite this, not many people know much about car insurance in India, which is not the ideal situation if one looks at it from a driver’s point of view. Irrespective of whether it is a new or a used, a person must have a car insurance policy with complete understanding of all its parts, pros and cons. New car insurance is even more important because a person, these days, churns out heavy money to procure the services of a vehicle while used car insurance helps a person to avoid the main reason why they bought a second hand vehicle in the first place. Thereby, knowing the types of car insurance is must for anyone who goes to purchase a car, be it new or used.
There are various types of car insurance available in India, depending upon the requirement of the particular individual and the vehicle purchased by him or her. For instance, a liability coverage car insurance policy is something that a number of people go for because they do not want to pay too much in premium. This is ideal in a used car insurance case because of a person would not like to pay for an accident and the subsequent damage. On the other hand, collision coverage is a type of car insurance in India that is liked by a many people, especially those who drive recklessly. For new car insurance, this policy is ideal because if the accident is too severe, repairs could end up costing more than the entire price of the car. There are other car insurance policies as well with some of them covering everything from scratch.
The main thing to keep in mind while buying car insurance for a driver is the expenditure one is agreeable to give as premium as it is somewhat of a deal maker or breaker. Many people opt out of car insurance in India because the premium or cost is too high. However, one should understand that new car insurance is mandatory in the modern day scenario and a person cannot get away with it. More so, buying insurance for a car, at the end, is a benefit for the buyer only, not anyone else.
