Car insurance is a basic protection scheme that guards your four-wheeler against any mishaps. Be it calamity or burglary or accident, car insurance offers protection from all of these. Therefore, picking the right car insurance beforehand can help you claim the financial losses that might occur due to these happenings. Every vehicle owner must pick up an insurance scheme. Despite awareness and government policies, as of 2019, only 43% of the cars on roads in India were insured. Car insurance is an umbrella term that can also be added with features like depreciation waiver, Roadside assistance, and so on depending on the individual’s requirement.
There are several third-party motor vehicle insurance providers. Each of them has slightly different pricing in the premium amount to be paid. The premium also depends on the car you own. Simple car insurance covering the basic requirements costs somewhere around Rs.2000. However, depending on the condition of the vehicle, this pricing varies.
Though car insurance is beneficial to vehicle owners, it comes into play only when the vehicle is damaged or lost. But during use, the vehicle might face issues on the road, which is not generally covered in a simple four-wheeler insurance scheme. This is where RSA comes into the picture.