Why do I need to get auto insurance? Is a query that we all have in our minds when buying a vehicle or exchanging one. We all come across insurance promotions on various social media platforms on a regular basis but only a few of us genuinely are aware of the insurance benefits one can get. Same goes for getting our car insured most of the people leave this business for later or some don’t get any insurance until after an incident. What we don’t realize is why it is so significant to have car insurance. It is because it allows you to be well-prepared financially if some incident occurs. An accurate type of insurance policy will cover the costs if
- In case any damage occurs to your vehicle through an accident or if somebody steals your car, burns it or any sort of vandalism occurs.
- If an accident occurs it will take care of the damage not only to your vehicle but also the other party involved.
- Also it provides financial security to the people involved if anybody is hurt or their health has been compromised, could be riders, drivers or people walking by or doing their chores.
Types of Auto Insurance
Generally three kinds of auto insurance are provided.
It protects you when an accident is considered to be your fault or when an accident happens because of third party’s mistake and cannot be proved for instance if your car is hit and the person at the other end fled away. Without insurance you would have to pay for the repair damage yourself on the other hand with the comprehensive policy insurance,
The policy that has been made a compulsion under the Pakistan vehicles act, is for covering up the damage costs if any incident occurs and is your responsibility. It covers both damage to a person or a possession.
It provides a combined protection in case of any damage to your vehicle or a third party or against any other issue such as vandalism or loss of your car.
Pakistani Insurance Companies
There are many insurance companies in Pakistan that are considered to be trustworthy while
This company has its setup in Pakistan and in UAE. Being mentioned among all stock exchanges in Pakistan speaks for the reliability of the company itself. And they provide with all kinds of motor insurance policies
One of the earliest companies it is a widely accepted and credible company with its headquarters running in Karachi and Lahore. It comes up with a number of motor and vehicles assurance policies.
Providing insurance for several versatile motors, marine, traveling or vehicles used in fire departments, it is the most marketed and promoted company with its offices working in many big cities of the country.
With a huge amount of net premium and a solid financial base this company stays in the top few. A larger than life experience
The only company which initiated the free of cost TPL tracking services. Developed recently it’s one of the fastest growing and a direct selling organization of Pakistan.
It is essential for one to have a car insured and this article provides with the basics one needs to be aware of. Now all you gotta do is t