Owning a vehicle adds convenience to your life, you don’t have to rely on public transport for travelling. It comes with a huge amount of benefits such as you can drive to your dream destinations, no more car rental hassles huh! Be all on your own and travel along with your family and friends. However, just like every coin has two sides, similarly buying your vehicle will invite certain complexities as well. While driving on road there are higher possibilities of facing an accidental trauma, this might end up damaging your vehicle or someone else’s property or vehicle. To cover all these uncertainties, it’s essential to buy a car insurance policy. It not only safeguards you from financial losses but also promises peace of mind while driving. Although third party car insurance is mandatory, it does not protect your own vehicle. Buying a third party over comprehensive might secure third party liabilities and losses; however you are still prone to bear the expenses in case of an accident.
What are the possible problems you might face if your drive without a comprehensive car insurance policy?
Heavy Penalties and legal liabilities
If your policy expires and you are found driving without insurance, the traffic police may penalise you.
Pay for the accidental damages
In case your vehicle met with an accident all the damage repair costs will have to be borne by you.
Pay for the medical expenses
If you suffer from injuries or face a severe health trauma all the expenses related to accidental hospitalization will have to borne by you.
Theft or Burglary
If your car gets stolen and you are unable to recover it with the help of police, then you might have to buy a new car with your lifelong savings.
Damage to third party person or property
Accidently if your vehicle ends up damaging third party’s property or gets involved in death/injury of driver then you might have to bear the hospitalization expenses as well.
Imagine your car’s engine gets locked due to water seepage, which is also termed as hydrostatic lock you will have to pay for a new engine which is bound to burn your pocket. Floods are common these days, hence not having a car insurance policy with hydrostatic lock will lead to a lot of damages.
Facing the above consequences is close to a nightmare and may jeopardise your savings, hence buying a car insurance policy is a must.