Reasons Why You Should Choose A Comprehensive Car Insurance Plan

Imagine that you just bought the four-wheeler you had your eyes on for quite some time now. You will most probably think back to the time when you worked extremely hard to save up every rupee for that beautiful vehicle of yours. And now, imagine that very same vehicle being subjected to an unfortunate event such as a flood, hurricane, landslide, or even theft. That would be disappointing, right? Wouldn’t it be great if there was a way to insure yourself and your swanky new car from almost all events of this sort? Well, the good news is that a comprehensive car insurance plan can help you out in exactly such unfortunate times in the future. But this is just one reason why you should choose a comprehensive car insurance plan over your standard third-party insurance plan. Let’s go through a list of the reasons that justify the purchase of a comprehensive car insurance plan.

Scope:

As per the Motor Vehicles Act of 1988, you are supposed to mandatorily take a third-party insurance cover while buying a car. If you don’t, you could invite legal consequences. The concerned authorities can even cancel your driving licence! Now, the thing about third-party car insurance is that it can only come to your rescue if you have damaged someone’s car, property, or body, with your car. Additionally, you get minimal insurance coverage for the driver of the car, for the time he/she finds him/herself in the middle of a road mishap. However, a comprehensive car insurance plan goes much far and wide than your third-party insurance in terms of all that it covers. A comprehensive policy covers the damages incurred by you and the third-party as well. Hence, if you have just bought a brand-new expensive car, we would advise you to always go for a comprehensive car insurance plan. *

Customisation:

Another characteristic of third-party car insurance is that you cannot customise them at all with additional add-on drivers. That is certainly not the case with comprehensive car insurance. If you go for a comprehensive car insurance plan, you can also get add-on riders that will protect parts of the car such as its engine, its entertainment system or even its accessories. Long story short, such a plan will afford you your hard-earned peace of mind when it comes to your motor vehicle. *

Guards you against depreciation:

Everyone knows that no matter how useful a car is to an individual or a family, its value keeps getting lower with time. So when it is time for you to sell your car, you will get a far lower price for it than what you paid for. Comprehensive car insurance, unlike standard third-party insurance, can protect you from that too. If not the full price, the zero-depreciation rider can at least get you the best possible price for your car. Hence, if guarding your car against such a thing is your priority, you must really scour the market for a policy that you can pad up with a zero-depreciation add-on. *

Protection against natural calamities:

For every car owner, perhaps the worst possible nightmare is the one which involves them losing their car to unfortunate environmental events such as an earthquake, landslide, avalanche, or hurricane. If you have standard third-party car insurance and lose your car to any of the aforementioned events, you cannot make a claim for the damages you suffer at the hand of such natural calamities. But, if you are a holder of a comprehensive car insurance plan, you can make such a claim, provided you have the right add-on rider. *

Economical in the long run:

A comprehensive car insurance plan is priced slightly higher than a third-party insurance plan, but it usually turns out to be cheaper in the long run. The parts of new cars are expensive, and their price fluctuates depending on factors such as the make, model, and the year they were manufactured in. Without a comprehensive car insurance plan, you will have to break the bank to repair your car. * * Standard T&C Apply

Comprehensive vs Third-Party Car Insurance Plan: Which One Is The Best For You?

 To be at peace in case of any unfortunate event damaging your new and expensive car, go for a comprehensive plan. But, if you have an old car which majorly stays in your garage and has a low market value, a third-party insurance plan will more than suffice. You may be better off paying the repair bills than paying the inflated premium of a comprehensive insurance plan. If you are wondering about getting a comprehensive car insurance plan, why not look at what Bajaj Allianz has on offer? On our website, you can compare car insurance prices and even use our car insurance premium calculator to see what your final amount will be after padding with the add-on riders of your choice. 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.