ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -If your car is involved in an accident that results in damage or loss to the property of any third parties, it is covered under the car insurance. Furthermore, if you face any legal liabilities in case of any bodily injury or death of a third party, your car insurance protects you against the same.

Detailed explanation-2: -Insurance plans are beneficial to anyone looking to protect their family, assets/property and themselves from financial risk/losses: Insurance plans will help you pay for medical emergencies, hospitalisation, contraction of any illnesses and treatment, and medical care required in the future.

Detailed explanation-3: -Health insurance: How it protects you from health and financial risks. No one plans to get sick or hurt, but most people need medical care at some point. Health insurance covers these costs and offers many other important benefits. Health insurance protects you from unexpected, high medical costs.

Detailed explanation-4: -The most important coverage has to be your state’s minimum liability and property damage coverage. More than anything else, you need to maintain car insurance to keep yourself legal to drive. You risk losing your driver’s license and fines driving without it.