covers your car against risks like theft, accident, explosion etc.
According to the reports of 'The Economic Times', approximately 360 people loss their lives everyday due to road accidents which is 10% of the total global number. Therefore, having a car insurance Policy in India with requisite Coverage levels makes sense.
Car insurance coverage stands for Risk cover provided by an insurance company against the loss incurred on road due to the car accidents. Now, when it comes to individual car insurance coverage, it depends on individual choice. There are different types of car insurance available in the market with its unique coverage level and add-ons options. You can get your car insurance coverage customized according to the budget you have allocated for car insurance Premium while purchasing your car insurance policy.
Here is the list of various covers you can avail as per your needs:
Needless to say, in any kind of road mishap, drivers and passengers are exposed to injury. Any car insurance policy bought provides cover against bodily injury to you and the passengers in your car.
As stated above, road accidents in India are more than in any other country; therefore, procuring coverage against bodily injury is a must to save oneself from the increasing health care costs. Moreover, this coverage should be sufficient enough and not so less that it is not able to shield against financial constraints when you really need to spend huge amount for the same.
Other than the protection against loss incurred in road accidents, you can get the coverage through replacement of car in case of burglary even if it is house-break one, cost of repairs in case of self-ignition, fire, explosion or lightning. Depending on your type of car insurance policy, you can get the cover against natural calamities like flood, earthquake or storm or various man-made tragedies like strikes, terrorism, riots and even more.
When your car collides with any other vehicle on the road, you are liable to pay for the damages occurred then, whether it is injury to the driver or passengers or any kind of loss incurred to their property. Having a car insurance policy with this coverage can save you from these kinds of liabilities to a larger extent, if they ever occur.
The Term stands for coverage level that includes above mentioned points and other than these, aid is provided against the theft of various and/or all parts of your car.
This coverage is availed by those who drive their car in different parts of the country and want their car to be repaired without paying cash at a garage under the network of their car insurer, in case of any need.
Alongside the aforementioned covers, there are various add-ons one can avail of such as: