Buying a car is one of the happiest moments in our life. Everybody wants to know how to drive an even me and was very much excited to learn. But before learning how to drive a car there are some basic points we should kept in our mind that is our safety and the car safety. These two are the priority to safeguard first. Like we do our health insurance similarly the car also need to be insurance so that we don’t get financial burden in hour of need. Car insurance is also known as vehicle insurance. Its basic and major role is to provide the financial protection and support if any physical or bodily damage occur due to an accident or traffic collision. But the meaning of car insurance will vary with the legal regulation in each region. Car insurance will pay the valid charges that are caused due to accident in return of the premium. Car insurance is a compulsory document required for all new vehicles. It doesn’t matter that whether vehicle is used for commercial or private used it should consist the car insurance all the time when driving.

Now days there is been tie between the insurance companies and the leading manufacturing car companies. When customer goes in market to buy a vehicle the dealer will provide the instant car insurance quotes for suggestion. Car insurance is necessary evil if you are driving a car then you should have car insurance to protect you current and future assets. If owner of the car does not have proper proof of the damage liability insurance, then they will not be able to legally register or maintain registration on their vehicle. There are different types of car insurance depending upon the limits. If you are found guilty of mot carrying car insurance while driving by the authorities then their risk that you vehicle may get impound. You may also be fined with heavy charges by the court along with not allowing you to drive at that moment if you are found guilty.

Car insurance is also very beneficial in repairing expenses also. If you hit someone else car then it is also very helpful in covering up that repair expenses too, if it was your fault. Teenagers are more in the need of the car insurance today because of the careless and rash driving. Due to the fault of the children there parents have to face financial problem if there care is not insurance.

The premium of the insurance is set by the company depending upon the rules and regulation set by the government of that particular region. Sometimes the premium is calculated by the actuary, which is depending upon the statistical data. Parameters that affect the cost of insurance are-

  • Age
  • Gender
  • Locality
  • History of driver
  • Profession
  • Marital status
  • Vehicle type

Having a car insurance will not only protect you but will also protect your assets like house, saving, salaries from being sold out to overcome or cover the expenses of the damage cause to the car.