Why should I buy a car insurance?

[Cheatn Sharma]

I have just bought a new car for the first time. I was not aware that insurance will cost me a lot. I am yet to buy the insurance. The cost of insurance is giving me second thoughts that should I buy the insurance or not? Guys, I will be really grateful if you can take me out of this situation.

 

[Yogesh Sarkar]

Because you cannot legally drive a car in India without insurance and at the minimum, you need third-party insurance. And that only covers third-party damages and won’t pay you to get your car fixed.

 

[gkapoor]

I am shocked by this question!

 

[SJM1214]

Most car dealers will not deliver you a new car without an Insurance. So technically you can not buy a car without insurance.

 

[adsatinder]

I have just bought a new car for the first time. I was not aware that insurance will cost me a lot. I am yet to buy the insurance. The cost of insurance is giving me second thoughts that should I buy the insurance or not? Guys, I will be really grateful if you can take me out of this situation.

It is practically good to buy full depreciation insurance.

You can cover damages made on your car and other cars etc by this insurance.

Since you are new to vehicles,
You may have more need of such full dep. insurance.
You may hit your car yourself or other cars too.
This is true for expert and experienced owner also.
Better make mind to buy full dep insurance.
Seen same with a friend recently bought a sedan and having insurance saved him.
It is good for you only.

Govt insurance companies give better plans and cover more.


If you want to save money
Better sell out your car.
It will save you from lots of future troubles too which you can't see right now without any experience.


Spl. Note:
Disclaimer:
Same goes with Marriage.
LOL !

 

[adsatinder]

The friend I am talking about had a crash on highway and all are survived as speed was around . He rammed the vehicle from behind and front got damaged. He has to tow away the car till Delhi by towing vehicle 3 days ago. He paid for that. But he lives here and it is easy for him to repair it under insurance cover. He can easily complete paperwork and will do other jobs too. This is his second claim in 7 months.

Imagine if he had just a small basic insurance, then he had to pay all repair work from his pocket only. It can be in 1.5-2 Lakhs
Estimate will be given in coming days. Survey is done. Waiting for the job to start.

 

[SachinOnTop]

@Cheatn Sharma :
You have to buy the insurance. It's mandatory.
But you can reduce the amount charged from you for insurance.

Instead of buying it through the car dealer/showroom, buy it yourself from a general insurance company. Ask the representative to remove all add-ons, and give you a regular comprehensive insurance. You'll be able to save few thousands!
And you'll have to renew it every year, without fail.

 

[nadz11.ns]

This is funny and shocking at the same time

 

[deepam]

Chetan,
To add to Adsatinder's point - better to go for Zero Dep Insurance.
Insurance costs every year 3-6% on the residua; value of car - also with Third party insurance which is increasing year over year.

 

[zack2137]

Just so you know, you also have to get it registered with the road and traffic authority of your district. This is also mandatory.

I was not aware that insurance will cost me a lot. I am yet to buy the insurance. The cost of insurance is giving me second thoughts that should I buy the insurance or not?

Insurance should cost about 1.5-2% of your vehicle cost at the most. How much are you being asked to pay?