Reasons to Buy Comprehensive Car Insurance Plan
Published On Dec 07, 2020, Updated On Mar 20, 2021
Purchasing Car Insurance? Comprehensive plans are the best choice. Why? Read this article to find out.
Our cars are very important possessions for most of us. They are one of the major purchases we make in our lives and we need them for our daily commutes. Thus, it is natural to want to take care of the car and keep it in good condition. However, it is in the nature of cars to be susceptible to damage and accidents. Such uncertainties cannot be avoided but having car insurance can add a layer of protection to your car. The best coverage in car insurance comes from the comprehensive type of insurance policy. To know more about it, read this article.
What is a Comprehensive Car Insurance Policy?
In car insurance, there are three basic types of car insurance. The first is third party insurance, this is an obligatory policy for all car driving on Indian roads. It covers third party liabilities in case of a mishap including bodily injuries, death and property damage. The second type of policy is the standalone own damages cover which compensated the cost of damages of the policyholder’s car in case of a mishap. Lastly, the comprehensive car insurance plan covers both these aspects under a single premium. This type of plan provides all-around protection and also offers a personal accident cover for the owner-driver of the car.
What are the Benefits of Purchasing a Comprehensive Car Insurance?
The following are the benefits of having a comprehensive car insurance policy:
1. All-Round Protection: A comprehensive plan provides wider coverage, giving protection against most aspects of damage in case of a mishap.
2. Third Party Insurance Included: With a comprehensive plan the third party insurance which is compulsory by law is included in the package.
3. Economically Efficient: With all these aspects under one umbrella and one premium having a comprehensive policy proves to be cheaper overall.
4. Hassle-Free: All your car insurance needs are covered with a comprehensive plan and under one premium. It makes the entire process less of a hassle and easier to renew.
What is Covered by a Comprehensive Car Insurance Plan?
1. Accidental Damage: Losses caused due to an accident and the subsequent repairs required will be covered.
2. Fire: If your car catches on fire the cover will compensate for the losses.
3. Theft: In case your car is stolen and cannot be traced any longer your comprehensive plan will provide compensation for it after factoring in the depreciation rate of the vehicle.
4. Third Party Liabilities: In case of a mishap, if there is a third party involved, this plan will cover the cost of their liabilities.
5. Natural and Manmade Calamities: Are known to have a disastrous effect on cars. But with a comprehensive plan, any damages caused due to such events are compensated for.
6. Vandalism: Damages caused due to events such as riots where the car is affected.
7. In Transit Damage: Damage caused while transporting the car from one location to another.
8. Personal Injury or Death: In case of an accident, the death or injury of the owner-driver is covered under a comprehensive policy.
In a nutshell, having a comprehensive insurance plan for your car insurers that you will have all-around protection in case of a mishap. Moreover, since all the aspects of car insurance are under one umbrella and one premium it makes the entire experience of purchasing and maintaining a policy much more trouble-free. You can further strengthen your comprehensive plans with add-on covers. Some useful add-ons include are the zero depreciation cover, the engine cover, tyre cover, passenger cover, roadside assistance cover and consumables cover. When purchasing car insurance make sure to compare different car insurance companies, the quotes and their network of cashless garages.
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.