Categorized | Car Insurance

what my car insurance can cover?

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

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:

Personal Accident cover

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.

Loss or damage of the vehicle

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.

Third party cover

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.

Comprehensive cover

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.

Cashless facility

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.

Additional coverage

Alongside the aforementioned covers, there are various add-ons one can avail of such as:
•Roadside assistance when immediate attention is called for.
•Protection of wages when the Insured is losing wages due to mishap occurred in his car on the road.
•Speedy repairs in order to get the car back on road without delay.
•Depreciation Waiver when the damaged parts of your car are replaced without considering any Depreciation on them.
•Protection against cost of alternate means of transport till your car is back on road.
•Life-time road tax cover in case you have lost your car completely.

Each add-on or Risk Cover option has cost attached to it and increase your car insurance premium accordingly. Therefore, choose wisely what to cover and what not to, as per the value of your car and other requirements.