We all put a lot of time and attention into finding the car that is best for us, studying the newest models, the best paint job, and investigating various features. You’re excited and filled with pride as you prepare to purchase your car. Given this, it makes sense that you would take extra care of your car because even a small strike or dent can have an impact on you. Additionally, it’s usual for your vehicle to sustain damage in India due to traffic jams, poor road maintenance, and rash driving, for which one must pay a respectable sum of money at each stage of repair and safety.
The Motor Vehicles Act of 1988 mandates that you insure your vehicle in order to protect yourself from financial harm in India. According to the legislation, third-party liability insurance is required to be carried by every vehicle on the road as a basic degree of security.
The Demand for Comprehensive Auto Insurance:
A third-party car insurance only covers third-party losses brought on by your car; it is insufficient to fully safeguard your vehicle because it excludes coverage for theft, natural disasters, and damages to the insured’s vehicle. Here’s where a comprehensive auto insurance policy comes to the insured’s rescue.
Advantages Of Comprehensive Car Insurance
Your safety is ensured by the variety of coverage options offered by comprehensive car insurance. It covers a wide range of risks, including those involving the automobile, its occupants, any goods or valuables in your car, as well as any harm done to other vehicles and its occupants.
- Own damage insurance
Under this plan, the insured vehicle is adequately protected by the comprehensive car insurance plan. It shields the vehicle from calamities caused by nature, including earthquakes, floods, lightning, and harsh weather. Additionally, it shields the vehicle against man-made catastrophes like theft and riots. Additionally, any damage to the car that occurs while it is being transported is covered by this motor insurance. *
- Liability coverage for third parties
In the event of an accident, the comprehensive coverage shields the car owner from third-party liability claims. As a result, the comprehensive car insurance policy will pay the third-party/beneficiary if a vehicle with this coverage is involved in an accident and a third party is injured or killed.
- Personal accident insurance
As described earlier, accidents involving vehicles are common, especially in India, due to poor road conditions and reckless driving. Tragedies can occasionally result in ruining not just your vehicle but, occasionally, even your life. If you get injured in a car accident or become permanently disabled, a comprehensive automobile insurance policy will pay you enough money to cover your medical expenses. *
A more advantageous choice than the third-party liability policy required by the law is a comprehensive car insurance plan, which offers broad coverage. Additionally, the peace of mind this type of car insurance policy offers is absolutely priceless because it offers the highest level of protection for your car and keeps you financially secure in the event of an accident.
* Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
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