You are here
Home > Industry and Business > 5 Reasons Why You Need a Motor Insurance

5 Reasons Why You Need a Motor Insurance

Imagine for just a moment that you didn’t have your car because it was at the mechanic’s workshop due to a horrid accident. In that case, you would have to depend on friends and public transport to get to work or your desired destination, or you might have had to incur costs that you may have not planned for. That’s why car insurance is necessary. Whether you just started driving or have been doing it for years or if you at least have a personal car, there’s a very high probability that you will be involved in an accident someday. In fact, studies show that there are around 5000 accidents in Bangladesh each year and number of injuries are around 25,000 per year, so let these facts sink into your psych before telling yourself that “I’m a good driver – it’ll never happen to me”.In Bangladesh, there are very few drivers who are insured, which can jeopardize your lifestyle and savings account if you’re not careful. It’s important to understand just how necessary it is to make sure you’re covered before you hit the road. In case you are not yet convinced and still wondering about rationale behind buying a comprehensive motor insurance scheme, here are the top 5 reasons why you need comprehensive motor insurance:

  1. To Protect Your Wallet:

If you find yourself at fault in an accident, then you’re most likely going to be held accountable for paying the cost of damages. These damages can include a driver’s injuries, damages to the car or property and legal fees, which probably won’t be cheap in most instances. With liability coverage, the insurance company will help you pay for a good chunk of these costs so that you’re not dead in the water financially.

  1. It’s Mandatory by the Law:

In Bangladesh, the government has made it mandatory to have motor insurance for all vehicles. At the very minimum, this insurance can be in the form of liability coverage that helps pay for damage to property or other drivers, which is usually referred to as 3rd party insurance. If you’re caught driving without coverage, you can face some hefty fines and a suspended license.

  1. Protect Yourself and Others:

Car accidents can happen to anyone, anywhere, at any time – no matter who’s in your vehicle. Sometimes you can get in a wreck with another driver who doesn’t have insurance, which leaves you paying for any expenses. If you have liability coverage and personal injury protection, it can help cover any injuries that you or your passengers endured from the crash. These medical bills from any hospital visit, surgery or on-site aid will be paid for by your insurance company and will ultimately save you a lot of money and trouble.

  1. Non-Accident Protection (theft/vandalizing/natural disaster damage):

Unfortunately, accidents aren’t the only bad things that happen to car owners. There’s always a chance that your car will get stolen, vandalized or damaged by Mother Nature. In any of these cases, insurance companies will cover the losses you sustained and will help turn your unfortunate situation around.

  1. Supply Legal Protection:

Victims of accidents will try to squeeze as much money out of you as they can, which sometimes leads to lawsuits. However, if you have car insurance, it can give you a safe cushion between legal claims and your savings. Efficient lawyers usually come with significant expense and having the right insurance can provide the right protection you need at an affordable price.

If you’re still weighing up whether or not it’s worth taking out car insurance, ask yourself if you can afford to be without it. If you’d like to discuss what kind of coverage best suits your needs, give us a call at 16457 and we’ll help you get started. If you’re looking for the right insurance coverage, we could assist you with detailed information to make sure that your auto insurance has the right amount of coverage for your family and your needs. We can also ensure that you are getting the best rate for your policy. You might as well opt for comprehensive insurance services through our other offerings such as health, personal accident, travel etc. To know more about our products and services, you can also visit

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.