The Benefits of Getting Car Insurance in Pakistan

The Benefits of Getting Car Insurance in Pakistan
October 6, 2017 Mrs. K Compare
Benefit of Car Insurance

Pakistanis are such dare devils, we refuse to believe that we need any kind of insurance protection and we’ll always be safe. Isn’t that how it is? Unless a tragedy or a mishap graces us – there’s a slim chance we’ll even consider being careful.

According to a recent PakWheels survey of around 11,000 respondents, only 25% had their cars insured. There are countless fatalities and immense amount of losses that take place solely due to road accidents. It’s imperative that for a safe society, every citizen makes sure their car is insured. So, if you’re amongst those people who are looking to buy a car, or already own one, be sure to get it insured.

Nowadays numerous car insurance companies and providers in Pakistan offer different auto insurance rates. In order to get a best car insurance deal, it is vital to compare auto insurance in Pakistan so that you can view the best auto insurance deals out of all available offers and make an informed decision.

So why should you have auto insurance?  The following are some of the reasons:

Financial security:

If you face any accident, there is a chance that you could face a financial loss as well, and that’s when the insurance company’s job comes in to the picture. Would you rather pay a lump sum when you have to get your car repaired or worse, replaced, when you could be strapped for cash, or would you rather prepare yourself for such an eventuality by paying a monthly sum? Spending a large amount of money after a mishap can be crippling, especially if you are budgeting your income and maintaining expenses on a very tight rope. From a scratch to a totaled car, your insurance company can cover every single bit, so why not invest in a car insurance plan?

Injury compensation:

Though uncommon, but in case of an accident most auto insurance companies may pay a compensation for any injury as well. A personal injury may cause you to skip work for a certain time of period which only adds up to your losses. In this situation, a car insurance will be a relief. You should always ensure by reading through your insurance policy, whether your insurance provider will pay for your injuries or not. More often than not, insurance companies try to cut their own expense by skipping out on vital points like these.

Car theft:

In a country like Pakistan where crime rate is quite high, mugging and car theft is pretty common. You can prevent a financial loss, in this case, by signing up with an insurance provider. In that case, thefts can be covered by your provider, and you may receive compensation up to the market value of your car. Now, of course, the value of the car will have to be assessed, and if the car is old, you may receive less than the original value at which you had purchased your vehicle.

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Repair and Maintenance:

If you face any accident or someone bumps into your car, you may need to have it repaired. Auto insurance companies can play a key role in helping you out in this case as well. By paying against the repair and maintenance expenses, you can have your car fixed up and brand new again. All you need to do is ensure that your insurance policy has you covered.

Law enforcement:

In Pakistan, it is the law to have at least 3rd party auto insurance cover in place. Failure to put insurance in place could result in imprisonment or a fine. Therefore, it is important that you compare the best deals and find the right insurance for your needs. It is highly recommended that you should seek for a comprehensive auto insurance cover to have a full peace of mind when you are on the road.

Legal payments:

If you meet an accident there’s a chance that you will face legal proceedings and that’s when your choice of correct auto insurance company will be help as they will cover the cost of some legal expenses. Having this cover in place will be another security for you. The costs can mount up and so, having the cover in place will provide you complete peace of mind.

So, in conclusion, it is better to be safe than sorry while on the road, driving in Pakistan where the traffic is pretty hectic, to say the least! If you are interested in finding the right car insurance plan for yourself, you can always compare different insurance plans through our comparison tool.

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