Whether you are buying car insurance online or offline, you may be offered two options – comprehensive coverage and third-party liability insurance. Of these, getting comprehensive coverage may not be mandatory, but it is advisable. This allows more coverage for your car, and you can also customise the plan with more add-ons.
Some people may believe that getting a comprehensive plan may prove to be expensive as compared to a third-party plan. While the cost may be higher, it may not be significantly more expensive. You can use an online car insurance calculator to get a better idea of how much more you may have to pay for a comprehensive plan.
Before you do, it is ideal to have a clear idea of what a comprehensive car insurance policy has to offer, and what its advantages are. Let’s take a look.
What is Offered in a Comprehensive Car Insurance Plan?
When buying third-party liability coverage for your car, most people are well aware of what they are getting for their money. A third-party car insurance
policy is a standalone plan that offers coverage for when your car is involved in damage to another vehicle. This sort of coverage is mandatory.
A comprehensive car insurance plan is a bundle that offers this mandatory coverage as well as a few other covers for you to ensure the most security for your vehicle. Here are some of the common coverages included in a comprehensive motor insurance policy.
Third-party liability coverage
Third-party coverage, which is available in comprehensive policies also, helps you pay for any damages that are caused to another vehicle, in an instance where your car was involved. This coverage eliminates the need for you to pay out of your pocket for any such third-party damages. *
This is the coverage that can help you pay for any damage that may befall your vehicle. For example, if your car were to be damaged in an accident, you can claim for the same using your Own Damage coverage. It also extends to natural disasters, such as floods and earthquakes. Furthermore, it can also offer coverage against theft or vandalism. *
Personal Accident Coverage
If you were to get into an accident when driving your car, and it leads to permanent disability or death, this coverage may prove helpful. In either case, you or your nominee can claim a pay-out. It can help you as well as your family to deal with new circumstances. *
Comprehensive Car Insurance Benefits
There are a number of advantages of getting comprehensive car insurance, online
or offline, especially over solely getting third-party liability coverage. In this case, you are opting for better security for your vehicle and ensuring that your finances aren’t affected if you were to face some unfortunate event with your car.
Here are some of the benefits of comprehensive car insurance
for you to consider.
Financial security for your car
One of the most evident advantages of getting a comprehensive plan for your four-wheeler is that you will have an added layer of financial security. Suppose that your car was damaged in an accident. The repairs could leave a serious dent in your finances and upset your financial planning. However, with comprehensive coverage, you can avoid such a circumstance. The Own Damage coverage can be claimed, and you will receive at least a part of the cost required for the repairs. *
Cover for death or permanent disability
Personal accident coverage is usually a part of comprehensive coverage. If you were to encounter accidental permanent disability where your car was involved, you could claim a pay-out from this plan to further support the cost of healthcare as well as other expenses. If the policyholder were to pass away as a result of an accident, their nominee could claim a pay-out as well. *
When buying a comprehensive policy, you can enhance the coverage it offers with add-ons. They offer specific coverage but cannot be purchased alone. You may not be able to purchase add-ons with third-party car insurance. Some of the common car insurance add-ons are zero depreciation, consumables, engine protection, and roadside assistance. *
When you have comprehensive coverage, you can rest assured that a significant amount of any sudden expenses arising regarding your car may be covered. You will not have to shell the entire amount out of your pocket. With this, you may be able to get some peace of mind.
Now that you know what comprehensive car insurance has to offer, you can go ahead and use an online car insurance calculator
to know how much you may have to pay for the same. When checking the premium rates, ensure that you also keep in mind the benefits this policy may offer over simpler third-party liability coverage.
* 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.