Why You Should Get Car Insurance and Its Benefits

Where desire and necessity merge, taking proper care becomes crucial. Along with routine maintenance, car insurance acts as a form of care. People naturally worry about road safety, especially in Dhaka and across the country. Every year, numerous accidents big and small occur, often damaging vehicles.
 

Those who use cars know how costly repairs can be. For this reason, insurance is important. In any accident, the car owner would have to bear the cost of damage to people or property. Although insurance is not legally mandatory for cars in the country, it is still highly advisable. Insurance provides security against potential risks. With motor insurance, car owners are protected, and the government can also earn revenue.
 

Benefits of Car Insurance

Insurance provides compensation if the car is damaged due to specific causes, such as:

1. Fire, explosion, or lightning

2. Theft, burglary, or robbery

3. Property damage due to theft

4. Riots, strikes, or harmful activities

5. Intentional damage or acts of terrorism

6. Natural disasters and earthquakes

7. Fire caused directly by an earthquake

8. Floods, storms, cyclones, hurricanes

9. Accidental external damage to the car

10. Damage during vehicle transportation
     

Advantages

Repairing such damages can be very expensive. Insurance protects the car owner from these financial risks by providing compensation. That is why analysts believe motor insurance should be mandatory for driving on the roads.

A.K.M. Monirul Haque, Chairman of Nitol Insurance, suggests that considering Bangladesh’s socio-economic conditions and the practice in neighboring countries, third-party motor insurance could be made mandatory. This would ensure at least minimal liability coverage. He recommends increasing current premiums and compensation amounts, simplifying the claims process, and establishing permanent benches in courts for prompt compensation to affected individuals.
 

Requirements for Car Insurance

To get motor insurance, you generally need:

• Vehicle registration documents

• Driving license

• Proof of tax payment (tax token)

• Owner identification (e.g., National ID or passport)
   

With these documents, you can directly contact an insurance company’s office to arrange coverage.