In this article, you will learn about the six reasons why you should buy car insurance in Pakistan. As anyone who’s ever had to deal with an insurance claim can tell you, it’s probably not something you want to do very often. Fortunately, with the right car insurance in Pakistan in place, you can avoid dealing with claims completely. But what makes car insurance so important?
6 Reasons Why You Should Buy Car Insurance in Pakistan
But what makes car insurance so important? Here are the reasons:
Protect yourself from being liable for any car damages
- If you are involved in a car accident, car insurance can help cover the cost of repairs or replacement for the other driver’s vehicle.
- Car insurance can also help cover your own medical expenses if you are injured in an accident.
- If your car is stolen, car insurance can help cover the cost of a replacement vehicle.
- If you cause damage to someone else’s property with your car, car insurance can help cover the repair costs.
- If you are sued for damages after an accident, car insurance can help cover your legal expenses.
- Car insurance can also provide coverage for towing and rental cars if your vehicle is disabled in an accident.
Most cars aren’t insured
- According to a recent study, only about one-third of cars on Pakistani roads are insured.
- That means that if you’re involved in an accident, there’s a good chance the other driver won’t be able to pay for your damages.
- Even if the other driver has insurance, their coverage may not be enough to cover all of your expenses.
- If you don’t have car insurance and you cause an accident, you could be sued for damages.
- If you’re found at fault in an accident, your car insurance rates will go up.
- Car insurance can help protect your assets in the event of an accident.
- In addition to protecting your assets, car insurance also protects you from liability lawsuits.
- If someone is injured in an accident where you’re at fault, they can sue you and potentially take money out of your personal bank account or get property taken away from you.
- In order to avoid these situations and ensure that no one sues you because of the damage caused by your vehicle, it’s best to purchase some type of car insurance before taking the wheel.
- It’s also worth noting that most countries require drivers to carry some form of auto insurance–so even if it’s not required where you live now, it might become mandatory someday soon!
Save money on penalties
In Pakistan, if you are caught driving without car insurance, you can be fined up to Rs. 20,000. Not only that, but your driver’s license can also be suspended for up to three months. So it’s definitely worth it to get insured! When you buy car insurance in Pakistan, your payments will go towards providing the coverage of any damages or injuries that may occur while you’re on the road. Make sure to get a few quotes before making a decision so you know what plan is best for you and your budget.
It doesn’t hurt to ask questions about some things you might not understand. Do they cover third party liability? Is there an excess? What is their deductible? These things all make a difference when choosing which plan suits your needs best.
Receive a discount on your car insurance premium
- You’ll receive a discount on your car insurance premium if you have a clean driving record. 2. If you own a home, you may qualify for a discount on your car insurance premium. 3. If you have multiple vehicles, you may qualify for a discount on your car insurance premium. 4. If you’re a student, you may qualify for a discount on your car insurance premium. 5. If you’re over the age of 55, you may qualify for a discount on your car insurance premium. 6. If you’ve completed an approved driver’s education course, you may qualify for a discount on your car insurance premium. 7. If you have anti-theft devices installed on your vehicle, you may qualify for a discount on your car insurance premium
In case of theft, you receive compensation
- In case your car is stolen, you will receive compensation from your insurance company. This way, you can replace your vehicle and get back on the road quickly.
- If you are involved in an accident, your insurance will cover the cost of repairs to your vehicle.
- If you are injured in an accident, your health insurance will cover the cost of your medical bills.
- If you are sued for damages after an accident, your liability insurance will cover the cost of your legal defense.
- If your car is damaged by a natural disaster, your comprehensive insurance will reimburse you for the cost of repairs.
In case of an accident, you receive compensation Section: For peace of mind
In case of an accident, you are entitled to compensation from the other driver’s insurance company. If the other driver is at fault, their insurance company will have to pay for your damages.
If you don’t have car insurance, you will have to pay for your own damages.
2. In case of a natural disaster, you are compensated for damage to your car: If your car is damaged in a natural disaster, such as a flood or earthquake, you are covered by your car insurance policy.
3. In case of theft, you are compensated for the value of your car: If your car is stolen, you will receive compensation from your insurance company for the value of your car.
4. Your insurer pays for repairs and depreciation if your car is stolen: Your insurer pays the repair costs and depreciates the value of your car. They do this because they know that it would be much more expensive to buy a new car than it would be to fix up yours.
5. If someone crashes into you, then they are responsible for all expenses incurred due to that collision: If someone crashes into you and there isn’t any criminal activity involved (like drink driving), then they are liable for all expenses incurred due to that collision.