Do You Qualify for a Comprehensive Car Insurance Plan?

When you invest lakhs of your hard-earned savings on the four-wheeler you’ve always wished for, it only makes sense to spend intelligently on car insurance. Well, as the old adage goes, “It is always better to be safe than sorry”, as the old adage goes. When you get comprehensive car insurance, rest assured you will have total peace of mind.

A third-party car insurance policy is required under the Motor Vehicles Act for every four-wheeler on the roadways. This statute makes sure that in the case of an accident, standing third-party damages and losses are covered.

Nonetheless, this doesn’t cover damages to your own car, leaving you unprotected in the event of an accident. It might result in you having to spend loads of money on replacement and repair. Thus, it is prudent to invest in a comprehensive car insurance plan to safeguard your prized possession from damage or loss. Comprehensive car insurance coverage protects not just your four-wheeler’s own damage but also third-party obligations.

Comprehensive Car Insurance: Benefits

Except for accidents, comprehensive insurance full coverage protects your vehicle against any unforeseen occurrence. It also covers damages suffered as a result of an accident. Let us have a look at some of the additional benefits of having “other than collision” coverage:

  • It provides the best degree of protection for your vehicle.
  • If you are judged to be at fault in an accident, you may make a Tata AIG car insurance claim or claim with any other reputable insurance provider in India for your losses with comprehensive car insurance.
  • It shields you against litigation, which includes legal expenditures, filed against you due to an accident.
  • Offers financial security and peace of mind
  • Provides cash assistance if your four-wheeler is totalled.
  • Unlike a third-party car insurance policy, it covers damages to your own vehicle in the event of an accident.

Comprehensive Car Insurance: What Does It Cover?

To prevent any last-minute surprises, it’s usually a good idea to thoroughly understand the exclusions and inclusions of your comprehensive car insurance in India. You should read it attentively for this. In general, you will not have to stress about the following because they are covered by your comprehensive car insurance policy in India:

  • Accidental damages
  • Third-party damage
  • Fire
  • Damages as a result of severe weather or natural disasters
  • Destruction or damage to your four-wheeler caused as a result of an act of civil disturbance like riots
  • Damage to your four-wheeler caused as a result of falling objects like trees

Comprehensive Car Insurance: What Doesn’t It Cover?

If your four-wheeler is damaged in an accident, you can file a four-wheeler insurance claim unless you have a comprehensive car insurance policy. Similarly, there are a number of things that are not covered by comprehensive car insurance:

  • The car’s wear and tear
  • Depreciation
  • Damage caused by drunk driving
  • Mechanical or electrical failure
  • Damage caused by driving while under the influence of intoxicating substances
  • Tube and tyre damage. However, if the four-wheeler is also damaged, the company’s responsibility will be restricted to 50% of the replacement cost.
  • Car loss or damage caused as a result of war, rebellion, or nuclear peril

Who Must Purchase Comprehensive Car Insurance Policy?

While there are various benefits to purchasing this coverage, one may ask if it’s the right choice for them. Here are some indicators of who can purchase this coverage or who it’s best suited for.

  • New Four-Wheeler Owners

Buying a new four-wheeler is a significant event for many people. This insurance coverage is the best to ensure that the new four-wheeler is properly protected because it covers both personal and third-party losses.

  • Luxury Four-Wheeler Owners

Because every portion of a luxury four-wheeler is costly, repair costs are high. A comprehensive insurance policy can help you save money in the event of an accident or a mishap.

  • Urban Dwellers

City dwellers are more likely to be involved in an accident owing to excessive traffic. Purchasing this coverage to safeguard themselves against unanticipated disasters would be prudent.

  • Responsible Citizens

It is required for a responsible resident of this nation to carry at least basic third-party insurance, but an individual should also be responsible for taking good care of their funds. Because a comprehensive car insurance policy covers both parties under a single policy, it’s cost-effective, and a responsible person would definitely pick this coverage.

The Bottom Line

With so many advantages, comprehensive car insurance is the best bet when it comes to safeguarding your four-wheeler. Based on the points mentioned above, it’s very beneficial and prudent to own one. So, look no further than a robust, comprehensive car insurance policy.

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