Busting Myths On Motor Insurance

The number of deaths in road crashes in India was at an all-time high in 2022 with fatalities above 1.68 lakh. This is approximately 462 deaths per day or a death every three minutes. The number of injured persons in accidental crashes stood at 4.43 lakh and these are only the reported accidents. Unreported accidents and their financial impact would be much higher.

With the increase in vehicle sales over the last few years, having a comprehensive car/two-wheeler insurance policy is more important than ever. Motor insurance provides essential financial protection against accidents, theft of vehicles and damages to third parties. Unfortunately, many people continue to have a few misunderstandings and misconceptions surrounding vehicle insurance. In this article, we will attempt to understand and clear some of these myths.