If you own a vehicle, buying car insurance would be on your priority list. But with so many options available in the market having varied features, getting a suitable policy can be confusing. Apart from the premium quote, numerous factors have to be considered to secure your car from any unforeseen mishaps. So, let’s go through the types of policies that you can avail while you buy car insurance online
Different Types of Car Insurance Coverage Available in India
You will find two types of car insurance covers that offer any financial aid during an accident.
Third-Party Car Insurance Coverage
Such a plan covers any loss or damage affecting the third-party property or causing bodily injuries or even death. It is mandatory to have this plan for driving legally in India. In the event of an accident, your insurance provider will offer the rightful compensation to the victim, taking away any financial burden from you.
But third party car insurance
does not give any security to you apart from the mandatory personal accident cover. Thus, damage to your own vehicle due to calamities, fire, explosion, etc. will not be covered by third-party insurance.
Comprehensive Car Insurance Coverage
A comprehensive cover provides full coverage car insurance by securing you for unforeseen conditions. Some of them are man-made and natural calamities, own damage, fire, theft, explosion, burglary, third-party liability, etc. Thus, your vehicle is secured from all kinds of mishaps. But such a cover comes with a higher premium when compared to a third-party insurance plan.
Various Car Insurance Coverage Types
There are types of car insurance
coverages you can get from an insurance provider:
Personal Injury Cover
Such a car insurance coverage safeguards the vehicle owner who’s driving and the passenger during an accident. The insurance provider entirely covers the hospital bills and expenses. But no matter who caused the mishap, the coverage will still be in place.
This cover only secures your vehicle in the event of an accident and reimburses the repair expenses incurred by you. But the condition to claim is that you can avail the benefits only if the damage is caused due to an accident.
Uninsured Motorist Protection Cover
You may come across such situations where you collide with another car, but the driver at fault doesn’t own an insurance plan to compensate for the damage. The ideal situation would be where the at-fault driver’s insurance provider covers the damages your vehicle has incurred. But when the other person has no such policy, you would have to pay for the loss from your own pocket. The uninsured motorist protection cover offers compensation for the repair of your vehicle, and you don’t have to bear the financial burden of it.
Add-on Covers for Car Insurance Policy
Numerous add-ons extend your comprehensive / full coverage car insurance policy’s scope as per your auxiliary requirements. Here are some common add-on covers:
Depreciation is a natural process where an asset undergoes natural ageing and wear and tear, which reduces its value. Similarly, your vehicle undergoes depreciation, lowering its market rate. With zero depreciation cover, your insurer will not consider the depreciation value during claim settlement.
Consumables such as nuts, bolts, engine, or brake oil, etc. are not covered by the insurer. In case you want to replace them, you would have to pay for the expenses. With this add-on, you wouldn’t have to worry about the replacement cost as your insurer shall cover it.
In case your vehicle breakdowns in the middle of the road, you can avail many services under roadside assistance cover. From fuel delivery to jumpstarting your engine, you are secured during an unfortunate condition.
You can now get the most suitable care insurance coverage and be carefree about the financial aspect of an accident.