Relation between vehicle insurance and road accident
Vehicle insurance (also known as, car insurance or motor insurance) is insurance purchased for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise there from the specific terms of vehicle insurance vary with legal regulations in each region. To a lesser degree, vehicle insurance may additionally offer financial protection against theft of the vehicle and possibly damage to the vehicle, sustained from things other than traffic collisions.
A Road accident refers to an accident involving at least one road vehicle, occurring on a road open to public circulation, and in which at least one person is injured or killed. Intentional acts (murder, suicide) and natural disasters are excluded.
“Killed persons” are accident victims who die immediately or within thirty days following the accident.
“Injured persons” are accident victims having suffered trauma requiring medical treatment (with or without hospitalization).
Relation between Vehicle insurance & Road accident
An analysis of road accident rates shows that these depend mainly on two factors i.e. the number of the motor vehicle on the road and the frequency of road accident per vehicle. If the frequency per vehicle remains stable and the number of vehicle per inhabitant increases, the accident rate can only raise. as it is not realistic or even described under the present economic and social condition to lower the number of vehicle on the road, the problem concerning the number of accidents will remain unsolved until the frequency of accidents per vehicle is controlled or reduced through the measure of loss prevention or loss reduction. We have considered motor accident as inevitable happenings than fortuity and as such a system to compensate victims even partially ought to be set up to alleviate the suffering of the people and to make good their losses.
Turning now to motor insurance after this short introduction, motor insurance is a legal remedy for the motor accident. A loss or damage caused by wrong full or neglect conduct of the driver is indemnified by the insurance company as per the policy or rule if vehicle is insured or if not than driver or owner of the vehicle has to pay for the loss.
Remedy for the Victim of Accident
Road Accident is a bad experience of life if especially when somebody injured very badly or lost his dear person in an accident. Nobody can imagine what will be happening in the next moment on the road. In other words, riding or driving a vehicle is the most risk job of daily routine life. Most important thing is that it is not only depending on himself but also depend upon the other vehicle drivers also.
- On vehicle damage
If vehicle is damaged in road accident and vehicle is insured, then you will inform the immediately to the insurance company and company will send the surveyer`on the accident spot and prepare his report regarding the damage of the vehicle and after that a fixed amount is paid by the insurance company against the damage and in case insurance company will not pay the amount then insurer can file a consumer case against the insurance company.
- On accidental death and injury
If in accident person has been died or accrued fatal injuries, in that case family member of the deceased (dead person) can file a case under the Motor Vehicle Act before the Motor Accident Claim Tribunal for the compensation in the lieu of the death of his family member against the owner and driver of the vehicle who did the accident and insurance company by whom offending vehicle be insured and in injury case person himself filed the case against that person who is liable for accident.
What happened if vehicle is not insured?
Most of the people insured the vehicle only point of the Traffic police Challan. People have only thought that if they have not insured the vehicle police will put the fine upon them and impound the vehicle but the main purpose of the insurance is given protection to the insurer from the bad result of the accident. Vehicle insurance has benefit like the other insurance i.e. health insurance, life insurance, Fire insurance, Home insurance but these are insurance is not compulsory for everyone. Theirs depend upon the need or choice of the person and they are personal nature insurance.
In case of a vehicle is not insured by an insurance company and some accident occurred by the vehicle then owner and driver of the vehicle will be liable for compensation to the victim and in death or injury case compensation amount always gone in lakhs.