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Motor Insurance For Women
Oct 16, 2023

All About Motor Insurance for Women: Tips and Advice

Whether it comes to driving the progress of the country or driving the steering wheel of a four-wheeler, women have been making progress in both spheres. More women are now driving cars and riding bikes, as compared to earlier times. Driving a private vehicle can be liberating since you have the freedom and power to go where you want and when you want. However, with this power and freedom, you may also have to take up the associated responsibilities. Driving may bring with it the need to confront unforeseen risks and dangers. An unfortunate event can lead to serious calamities and harm one’s finances and personal health. It might put others at risk as well. That is why, women drivers must know all about motor insurance and buy the right one.

What You Need to Know About Motor Insurance for Women

Most aspects of motor insurance are similar for both, men and women. Let’s look at important points about motor insurance.

-  Motor insurance is legally mandatory 

As per the Motor Vehicles Act of 1988, every vehicle owner driving on Indian roads must have a valid motor insurance policy. It should provide at least third-party insurance coverage. Third-party coverage is used primarily in cases of accidents involving the insured car, where the third party has incurred damages. Here, the financial compensation for the same would be paid by the third-party motor insurance provider.

-  Comprehensive coverage can be essential too

Third-party coverage may be mandatory; however, it can prove insufficient as it does not concern itself with damages to the policyholder’s car. Comprehensive motor insurance coverage can be of help in this scenario. It offers financial help to the policyholder against damages due to a variety of risks and dangers, such as natural disasters, manmade calamities, fire, theft, and so on. * So, as a female driver, if you wish to protect your finances against the above-mentioned risks, you can opt for comprehensive motor insurance for women.

-  Add-ons can increase the scope of coverage

When you buy a comprehensive plan, you also get the option to select add-ons or riders to give your vehicle an additional layer of protection. You can select the add-ons as you see fit, depending on your needs and budget, since add-ons can increase the premium amount nominally. For instance, if you are likely to make claims often, you might want to opt for the zero depreciation add-on. It allows you to receive the full claim amount, without any depreciation value being deducted from it. * If you use your private vehicle to drive your child to school or to drive around your loved ones, then you can opt for the passenger cover. This add-on provides protection to you as well as your loved ones in the passenger seat in case of an unfortunate event. Other add-ons you can include in your motor insurance plan are the engine protection rider, consumables expenses add-on, 24/7 roadside assistance, lock and key replacement add-on, and so on. *

-  Cashless repairs can be availed at network garages 

If your car or bike breaks down and you do not have sufficient cash at hand to pay for the repairs, you need not worry. You can take your vehicle to a cashless garage where the bills for the repairs would be taken care of directly by the insurer. All you would have to do is raise a cashless claim and pay for the out-of-pocket costs. * To enjoy this feature widely, you must ensure that you choose an insurer with a high number of network garages across the country.

-  Selecting the right insurance company is important 

As a financially prudent woman, you would want to make sure to choose the right insurance company to protect your vehicle. After all, you would be paying yearly premiums to the company. Hence, it is crucial that you research sufficiently to choose the right insurer. Some factors you can look for in the process include:
  1. The scope of coverage under the insurance plans
  2. The credibility of the insurer (reviews, the claim settlement ratio, testimonials, market reputation, etc.) *
  3. The number of cashless garages in the insurer’s network
  4. The customer service provided by the insurer
  5. The presence of 24/7 claims assistance services *
  6. The premium quoted by the insurer
An insurance company may provide all the features you want, but if the premium is too high, it can be of no use. Hence, make sure that the premium is within your budget. You can also use a motor insurance calculator to get an estimate of what your premium would be. In conclusion, motor insurance for women can be easy to understand, research, and buy. Make sure to do adequate research before you buy motor insurance to receive the best protection you can afford.   * 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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