What If I Do Not Buy Car Insurance?

   2021-02-13       21        Finance
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You can compare diverse motor insurance policies online by logging into an insurance broking portal for free. But, not all portals will fetch you the best results when you compare car insurance.

However, if you are still wondering why you buy a car insurance policy, let me give you some reasons.

  • Compulsory by Law

The third party liability is the core reason behind this mandate. A motor vehicle running in a public space can cause various damage or loss to the life and property of others. Third-party liability only policy covers such liabilities such as third party death, bodily injury, and property damage borne by the insurer. This is the reason why no vehicle that owns a car drives their car on road without this cover.

  • Covers Third Party Legal Liability

As per the Motor Vehicles Act 1988, it’s mandatory by law that all owners of motor vehicles at least buy the third party car insurance policy. This policy helps you get away from any legal consequences that could arise due to damages caused to a third party person/property on the part of your fault.

  • Covers Own Damage (OD)

The repairing of a vehicle is a costly repair. It is most of the time that you need to pay for the damages from your own pocket. Buying motor insurance can help you save this cost since your motor insurance company will pay for the damages or repair for your vehicle.

So as it’s clear, buying an insurance policy for your car is a must otherwise you might have to face legal consequences. Meanwhile, if you are looking for the best car insurance policy for your vehicle, you can click here and compare the top motor insurance plans and grabs the best coverage for the best price.

Author Signature :


I’m a writer, an educator, a quick learner who seeks and values knowledge above everything else for my knowledge, it is something that can’t be purchased with any wealth in the universe. After completing my Master's Degree in Literature, I embarked for something that feeds my soul and finally here I’m.


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Nitish Kumar

Car insurance policies can literally serve you more than you can ever think. The importance of car insurance in India is directly linked to the law imposed by the Government of India. As per Motor Veh..


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