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Facts about Car Insurance

Choosing right car insurance is tough. Discover the benefits of having insurance for your car and how to get an affordable cover.

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Facts about Car Insurance

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  1. Car Insurance Managing the Risk

  2. Did You Know? • Every day, there are 3300 deaths and 6600 serious injuries on the road in the world • 1.27 Million People in India sustain serious injuries due to road traffic • Although India has only 1% of the world’s motor vehicles, but it accounts for 6% of the total global RTA deaths

  3. What is Car Insurance? • Car insurance is an Arrangement between an individual (consumer) and an insurer (insurance company) • Protects an individual against loss due to theft or traffic accidents • It provides financial compensation to cover damage caused

  4. Benefits of Motor Insurance • Provides economic safety net • Covers the bills of vehicle repairs • Provides appropriate death benefits

  5. Insurance Rate Influences • Following categories influence your car insurance premium the most: • Driving Record • The cleaner your driving record, the lower your premium • Age • People under age 25 pay higher premiums • Gender • Men have more accidents, rates may be higher • Marital status • Married drivers have fewer accidents, so rates are lower

  6. Save Money !! • Shop around for best deals • Select coverage that suites you • Opt For highest deductibles • Avoid expensive or high-performance vehicles • Enquire and take advantage of discounts

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