In present times of high vehicle density, the chances of a mishap happening also increase. In such cases, having comprehensive car insurance is crucial. It will help you cover the heavy repair bills in the unfortunate event of an accident or natural disaster, causing damage to your car. While, according to law, having third-party insurance coverage is mandatory, it is always smart to opt for a comprehensive insurance policy. In third-party liability cover, the coverage protects you financially against the injury or death caused to a person involved in an accident with your insured vehicle. It also compensates for the damages made to that individual’s property.
However, with a comprehensive car insurance policy, you get double protection. You are not only covered for third-party liability but also for your car’s damages. The unforeseen events that can cause loss or harm to your vehicle including theft, fire, road accidents, and natural disasters are also covered by a comprehensive car insurance policy. Therefore, this policy is the best choice to provide all-round protection to your vehicle.
Features of a Comprehensive Car Insurance Plan
Here are some of the features of a comprehensive car insurance policy:
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Third-party cover
It is important to note that a comprehensive insurance policy also covers third-party liability. It offers protection against the damage or losses caused by your insured vehicle to another person or his belongings.
2. Damage due to natural disaster
Any loss or damage incurred due to natural disasters is also covered under the comprehensive insurance policy. These disasters generally include earthquakes, storms, floods, tsunamis, etc.
3. Personal accident cover
A comprehensive insurance policy also provides compensation in case of death or permanent disability of the driver or co-passengers during an accident.
4. Facility of add-on covers
One may also enhance the coverage of the existing car insurance policy by simply including ‘add-ons’ to the basic policy. You can think of including riders like tyre cover, consumables cover, zero depreciation cover, etc.
5. Offers more value for money
Certain people may think that third-party cover which has a lower premium will be a better option to buy. However, the main reason for the reduced premium is the low risk taken by the insurance company. For a comprehensive insurance policy, while the premium amount is high, the level of protection you get is also very high. This makes it a value-for-money deal for you.
6. Remain stress-free
If you are holding comprehensive insurance, you should relax and be stress-free as it covers all the damages to the car, injury to the driver, as well as, hospitalisation of a third party and repairs to their property.
What it Does Not Cover?
The exclusions of comprehensive car insurance are:
- Electrical issues or mechanical breakdowns during the journey
- Damages due to wear and tear
- Damages due to driving under the influence of drugs or alcohol
- Accident caused by a driver who is a minor or one who does not hold a driving license
Why Comprehensive Car Insurance Policy is Better than Third-Party Coverage?
Here’s why a comprehensive insurance policy provides more value than third-party insurance:
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Protection is expanded to driver and third parties too
If you meet with an accident, sustain injuries, get damages to your car, and cause injuries to a third person, then you will get covered for the repairs, your injuries, and the hospitalisation of the other party with comprehensive car insurance.
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Better value for money
A comprehensive insurance policy is economical and combines the benefits of third-party liability and own damage cover.
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Add-ons available enhance the degree of protection
You can significantly increase the level of protection for your car with useful add-ons. However, this is only available with comprehensive car insurance.
Conclusion
Opting for a comprehensive car insurance policy is a prudent decision for vehicle owners seeking extensive protection. You can also opt for riders to enhance the coverage. You can easily buy comprehensive car insurance online. When choosing one, research to find the best insurer. This is to ensure that you get your claims settled on time.
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