Car-Insurance
Those who are not aware about the concept of insurance might find car insurance a bit difficult to understand. Some people take it as an investment. Car insurance is not exactly an investment because it does not yield returns like a fixed deposit or a mutual fund. However, it is an important part of your financial plan as it prevents financial losses in cases like a car accident.
Car insurance is based on the simple concept of risk sharing. You pay a premium to an insurance company which promises to pay for the car repairs as per the terms and conditions of the policy.
The following sections will help you to understand important points about car insurance and act as a guide to buy best comprehensive car insurance or zero depreciation car insurance online. Also check out the frequently asked questions section related to car policy.
Car Insurance, alternatively known as motor insurance or auto insurance is a specific policy that you buy for the protection of your vehicle against any sort of damages due to inescapable or unfortunate accident. Since India is a country mainly known for its vast population, car accidents have become a daily drama here. No matter how safely you drive your car or how responsibly you manage your vehicle, accidents can happen just as fast as we blink isn′t it? Imagine this: you parked your car outside a shopping mall and when you come back from shopping after a couple hours, with a bolt from the blue you discover a big dent on the back of your car. How do you deal with such situation? Well, fortunately, that′s when your online car insurance policy comes into its role play.
What Does Car Insurance Cover?
24 x 7 Break Down Services
Did you know in case of your car breaks down, you are entitled to get a pickup service while your car get a towed service under certain policies?
Cashless Repair
Did you know that repair to your accidentally damaged vehicle can be arranged cashless through the selected garages across the country?
Third Party Property Damage
Did you know that you can extend third party property damage liability up to 7,50,000 under this policy with some additional premium?
Windscreen Glass Coverage
Did you know that you can cover any damage of your windscreen glass by paying some additional premium without your no claim bonus getting affected?
Nil Depreciation
Did you know that by paying additional premium, depreciation during replacement of car parts can be waived?
Engine Projection
Did you know that by paying additional premium, depreciation during replacement of car parts can be waived?
Different Types Of Car Insurance Plans
In general, you will be offered two types motor insurance covers by a car insurance company within their car insurance plans. The Two types of motor insurance plans are Third Party Liability Car Insurance Coverage and Comprehensive Car Insurance Coverage.
Third Party Liability Car Insurance
The first party who is the owner of a four wheeler buys a motor insurance policy from the second party that is the car insurance company for the protection against the claims of a third party that can be a driver of another vehicle, passengers or even pedestrians. Third Party car insurance policy is specifically designed to cover any property damages or bodily injuries to a third party caused by your vehicle. It′s obligatory to have third party car insurance for all motor vehicles piling on road in India.
Comprehensive Car Insurance
Comprehensive car insurance is an optional car insurance policy that comes with higher level of protection for your vehicle. The best advantage of buying comprehensive car insurance in India is that it protects your own vehicle against various damages arising from accident, fire, vandalism or even theft plus it also takes care of the third party liability claims. Some extra features and benefits are offered with comprehensive car insurance plan by the best car insurance company in India.
Benefits Of Car Insurance
Car insurance online certainly has a plethora of benefits to offer. The list of advantages for car insurance comprises of the following.