Car Insurance
A Car Insurance or four wheeler is an agreement between a car owner and a general insurance company wherein the latter promises to protect the car owner from financial losses which may occur due to unforeseen events like accidents, theft, natural calamities such as floods, third-party liabilities and other man-made disaster that could harm your vehicle. Having a good car insurance policy ensures that you and your car are protected from the financial losses of these unforeseen events.
As per the Indian Motor Vehicle Act of 1988, if you own a car in India, It is mandatory to have car insurance to drive your car on Indian roads. You must have Third-party insurance before hitting your car on the road or, you could opt for the added protection of comprehensive car insurance policy and enjoy your worry-free drive.
Types of Car Insurance: -
The type of cover you get depends on the type of insurance plan you choose. There are 3 types of car insurance plans as explained below:
- Third Party Car Insurance Plan: A third-party car insurance policy will safeguard you from property damage, physical injuries and death of third-party on the roads. Car claim is not covered under this plan
- Comprehensive Car Insurance Plan: A comprehensive car insurance plan provides coverage for all types of own damages that may occur due to accident. It provides coverage for both third party liabilities as well as own damages suffered by the insured’s car. Own Damage incidents could be natural calamities, burglary, theft, riots or terrorist activity or damages caused during travel.
- Standalone Own Damage Car Insurance Plan: A standalone own damage car insurance plan provides insurance cover only for own damages incurred by the insured’s car due to accident or other unforeseen events.
Key Benefits:-
- Reduces Financial Stress
- Get Personal accident cover for PA owner driver of sum insured 15 Lakhs
- Get Legal liability driver cover
- Cashless Garages repairs
- Get Personal accident for passengers
- Get legal protection
Add-On Covers: -
- Zero Depreciation Cover
- Key Replacement Cover
- Loss of Personal Belongings
- Roadside Assistance Cover
- Passenger Cover
- Consumables Cover
- Engine Protect Cover
- Return to Invoice Cover
What is Covered
An insurance company provides coverage for the own damage incurred by the insured’s car under a comprehensive and standalone own damage covers:
- Coverage for theft, accidents and terrorist activities
- Natural Calamities – Floods, Earthquakes, Cyclones, etc
- Fire/Explosio
- Riots, Strike
- Damage during Travel by Air, Rail, Road, Water.
What is Not Covered
- Regular wear & tear and ageing
- Regular service expenses
- Loss or damages under influence of drugs or liquor.
- Any Consequential loss
- Damages that arise when driving without a valid license.
- Wear & Tear of tyres and types
- Mechanical or electrical breakdown
- Loss or Damages due to war, nuclear risk.
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