Very Cheap Auto Insurance

In the catalogues of car manufacturing companies, various specifications and also price of the car is given, which always says insurance charges will be extra. Car insurance charges for the first time run into five figures and customer has to pay it through nose. Next year onwards, a large number of customers opt for only third party car insurance because they have to shell out smaller amount in comparison to comprehensive insurance and thus they compromise on their own safety and vehicles safety. The financial impact on these two aspects is very high when there is a serious accident. Same is the case for all other auto insurance.

After cars, it is the bikes which are second largest in numbers in any city. Bikes are mostly owned by students and low middle class people. A large chunk of bikes are running without auto insurance. The only reason is that this class of society considers it as an extra and the least preferred expenditure. Or, most of them will have only the third party insurance which is a form of very cheap auto insurance. But it does not provide them the safety of the self which is utmost important. Any third party will seldom get seriously injured and the claims will be seldom and the insurance companies have least risk payout. On bike, self safety of the driver is utmost as his body is in open from all sides the accidents are generally serious and sometimes create physical disabilities. Higher rates of insurance can only be blamed for this. If very cheap auto insurance rates are introduced, all the bikers will willingly go in for comprehensive auto insurance. Government should also subsidize the insurance premiums as the financial loss to the nation due to accidents of uninsured or partially insured vehicles is very huge.

Owners of three wheelers and other small commercial vehicles blame it on high auto insurance rates. Solution lies in very cheap auto insurance rates. Higher rates of car insurance and all other types of auto insurance are responsible for detracting people for going into comprehensive insurance. If you ask people what is the solution, they will suggest it as very cheap auto insurance. Business of insurance companies will turn manifolds due to large number of people now opting in for the auto insurance due to very cheap auto insurance rates. The urban customers generally pay for car insurance or any other auto insurance when due because of accidents taking place every day on over crowded roads but the rural customer can be brought in the insurance net if very cheap auto insurance rates are introduced.

The rural customer considers the auto insurance as a useless expenditure. Due to lesser road congestion, there are fewer accidents and importance of auto insurance is not realized by them. This apart, lack of service centers or workshops of car/ bike/ tractor or any other vehicle companies in rural areas is also a detraction as repairs of their vehicles is not paid by insurance companies. Considering financial constraints of the rural population, the insurance companies must introduce very cheap auto insurance rates so that their net is wider. The volume of business in turn will not put the insurance companies into loss but they will be earning more profits.