Is Auto Insurance that important?

By | 19/10/2016

In india almost 300+ Vehicle accidents occur every day which would calculate up to a total of  54,000  per year which is a shocking number and that is what makes it important to have a Vehicle Insurance to pay up and compensate the damage. Just like a Life Insurance having a Vehicle/Auto Insurance is a kind of insurance, specially designed to protect the vehicle and vehicle owners against the financial loss caused by an accident.

Types of Auto Insurance

There are different kinds of auto insurance in the market. According to the size and use of vehicle, the policy to be taken also will change. For instance a Car owner cannot go for Two Wheeler insurance and a commercial vehicle owner cannot go for car insurance. Below given are the major types of auto insurance;

  • Two Wheeler Insurance
  • Car Insurance
  • Commercial Vehicle Insurance

Full coverage auto insurance

Full coverage auto insurance is a kind of comprehensive insurance. It provides third-party liability services in addition to coverage for damages sustained by car of insured. In the event of an accident, full coverage auto insurance will protect the car and any other cars or property damaged. Types of damages covered this policy consist of thefts and accidents to certain types of risks. These insurance policies also provide coverage against floods, riots, earthquake and strikes. If insured pays extra premium, various accessories within a car can be insured by Full coverage auto insurance.

Securing your vehicle with an insurance is compulsory if you care to safeguard your vehicle’s future. Get to know more about it and its benefits through MoneyMindz.Com avail free financial assistance while buying Auto/Vehicle Loans.

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