Consider going on the most anticipated road trip of your life; you’re having a pleasant time until you collide with another car and cause a severe accident. Your journey has now been ruined, but you are liable for any damage caused to a third party. To avoid such situations, you must be prepared and purchase a car insurance policy ahead of time.
You might be thinking about what kind of insurance to buy. To help in answering that, the following car insurance coverages are available:
Coverage for third-party liability –
If the accident occurs due to your negligence, you must pay for any damage caused to the third party’s property or person. Third-party car insurance is helpful in this situation. Not only that, but it also includes coverage for the demise of a third party. This insurance is required for all vehicles operating on Indian roads.
Comprehensive coverage –
Car parts and the cost of repairing car damage are far too expensive to pay out of your pocket, it is wiser to utilize it within the car insurance prices paid within the premium. They put your savings at risk. What if your car is damaged in an accident, and you can’t afford the repairs?
In addition to third-party damages, you may need comprehensive coverage if the accident caused damage to your vehicle. As this policy is complete and offers a wide range of options, it also covers its damage. Aside from that, damages or losses caused by man-made or natural disasters are covered.
Another advantage of purchasing comprehensive car insurance is that you can add-ons to enhance your coverage. The premiums for such a policy will vary depending on the vehicle model.
Purchasable add-ons include the following –
- Roadside assistance:
This is one of the most common but beneficial add-ons. You will require assistance if you are stranded in the middle of nowhere due to a vehicle breakdown or another reason. You can contact your insurance provider at any time and from any location with the help of this add-on cover, and roadside assistance will be provided to you.
- Engine protection:
This cover helps protect your vehicle’s engine from damage caused by oil leakage, water ingress, and other factors. This coverage is essential, especially for people who live in flood-prone areas.
- Zero depreciation shield:
People who do not have this add-on cover face significant deductions from the claimed amount. For example, you still need to receive full reimbursement for repairing plastic components, tyres, and glass. The expenses are always depreciated by a predetermined percentage based on the type of vehicle and the extent of the damage.
- Key and lock replacement cover:
You must purchase this add-on if you have a habit of misplacing or losing your keys. It assists you by paying a fixed or actual sum for replacing the lost vehicle key. If necessary, you can even replace the lock.
- Consumables expense cover:
Your standard car insurance policy may not cover replacement consumables like oil, brake fluid, coolant etc. This is when the consumables expense coverage comes in handy.
Remember to select the add-ons you require to add them to your premium amount. Before purchasing a policy, compare car insurance policies and read online reviews or use an online car insurance premium calculator for wiser understanding of the premium prices.
This will assist you in choosing your auto insurance policy wisely. It is always preferable to conduct research before purchasing any product in general.
* Standard T&C Apply
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. 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.