Car Insurance also known as Motor Insurance
Car insurance concept a bit difficult to understand. Few people consider it as an investment but it is not exactly an investment because it does not yield returns like a financial instruments such as fixed deposit or a mutual fund. However, it is an important part of your financial plan as it prevents financial losses in cases like a car accident.Car insurance is based on the simple concept of risk mitigation. You pay a premium to an insurance company which pay for the car repairs as per the terms and conditions of the policy.
Car insurance concept a bit difficult to understand. Few people consider it as an investment but it is not exactly an investment because it does not yield returns like a financial instruments such as fixed deposit or a mutual fund. However, it is an important part of your financial plan as it prevents financial losses in cases like a car accident.Car insurance is based on the simple concept of risk mitigation. You pay a premium to an insurance company which pay for the car repairs as per the terms and conditions of the policy.
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