Benefits of Comprehensive Car Insurance Policy
Updated On Oct 15, 2023
A comprehensive car insurance cover offers complete protection to your car. Here are the benefits which are associated with comprehensive car insurance.
Every car owner in India must be aware of the fact that owning at least a third party liability insurance while driving in India is a compulsion, as per the Indian Motor Tariff. However, owning the basic insurance will only make them secured from the legal end, but not from damage expenses, medical costs and total loss which could occur due to an accident, mishap or theft of their car. To cope up with such situations, a comprehensive car insurance cover is always recommended. It operates on a holistic approach and offers coverage for almost all sorts of damages.
Here are some benefits which are associated with comprehensive car insurance:
- Third Party Liability Cover – The comprehensive insurance cover gives coverage for damages which you may incur towards the third party for its bodily injuries, disability and death, or property loss due to an accident or mishap with the insured car.
- Personal Accident Cover – The Personal Accident Cover is one of the components of comprehensive car insurance which offers coverage of up to Rs. 15 lakhs by taking care of your medical costs up to Rs. 15 lakhs, if you get injured in an accident with the insured car.
- Car Accident Cover – A car accident could end up in huge damage, which might make you pay for a hefty repair cost. Hence, the comprehensive car insurance plan is designed to cover all the damages sustained by your car by taking care of your car repair bill. The comprehensive insurance cover also compensates the car damages caused due to fire which might be ignited because of lightning, explosion, self-ignition and so on.
- Car Theft Cover– Sometimes you face a heavy loss of your car without getting involved in an accident or a mishap. It could happen if your car gets stolen which is devastating as it is a huge loss to afford. But, if you own a comprehensive plan, there is nothing to worry about as it covers the loss occurred due to car theft by providing you with the Insured Declared Value (IDV) of your car during the claim settlement.
- Calamities Cover – When it comes to damages, it might not always be caused due to your fault but sometimes calamities bring damages for your car with them. The comprehensive insurance as the name suggests gives complete protection to cars, which also comprise coverage against natural calamities like flood, earthquake, cyclone, etc., as well as man-made calamities like war, riots, and so on.
- Add-on Covers – The comprehensive car insurance comes with an option of add-on covers which are designed to offer coverage for the exceptions of a car insurance policy or to enhance the policy coverage. The add-ons can be availed by paying for an additional premium amount in addition to the basic premium of the car insurance plan. Some popular add-on covers which can be bought with comprehensive insurance are Zero Depreciation, No Claim Bonus Protect, Roadside Assistance, Consumables Cover, Engine Protection, Return to Invoice, Passenger Cover and so on.
Comprehensive car insurance cover hosts a range of benefits with which car owners can drive peacefully. Going through this article would have given a clear picture of what you could get with comprehensive car insurance and we hope that it will help you make informed decisions while opting for the right car insurance for you.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.