facts about car insurance
DESCRIPTION
Choosing right car insurance is tough. Discover the benefits of having insurance for your car and how to get an affordable cover.TRANSCRIPT
Car Insurance
Managing the Risk
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
What is Car Insurance?o Car insurance is an
Arrangement between an individual (consumer) and an insurer (insurance company)
o Protects an individual against loss due to theft or traffic accidents
o It provides financial compensation to cover damage caused
Benefits of Motor Insurance
• Provides economic safety net• Covers the bills of vehicle repairs• Provides appropriate death benefits
Insurance Rate Influences
• Following categories influence your car insurance premium the most:
• Driving Recordo The cleaner your driving record, the lower your premium
• Ageo People under age 25 pay higher premiums
• Gendero Men have more accidents, rates may be higher
• Marital statuso Married drivers have fewer accidents, so rates are lower
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