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Comprehensive Insurance Policy

Why You Need A Comprehensive Insurance Policy

21st November 2018 5min read 20120 views

Buying a car is one of the most joyous accomplishments of our lives, but it comes with the responsibility of purchasing car insurance. When people begin to consider the different types of policies available in the market today, they get overwhelmed and settle for the one insurance that is mandatory for car-owners in India – third-party liability.

Let’s say you happen to get involved in an auto accident. Thankfully, no harm comes to you or your fellow passengers. However, the person whose vehicle you bumped into by accident may expect you to bear all the repair costs (even if the damage is no more than a barely-visible scratch). While third-party liability insurance will keep you from draining your savings account in order to meet those expenses, it will cover property or bodily damage caused to a third party only. Any injuries sustained by you or your fellow passengers will be your own responsibility. Honestly, we believe both you and your precious vehicle deserve a lot more protection than that.

Enter comprehensive insurance. As opposed to third-party liability comprehensive car insurance covers damages incurred by you and your vehicle in the unfortunate event of an accident. The policy’s end-to-end coverage is a blessing in other circumstances as well, such as vehicle damage caused due to natural or man-made calamities, theft, vandalism, trees falling out of nowhere, and so on.

Along with covering damages to both parties involved in an accident, comprehensive insurance can also do other things. You can easily transform your policy from a hero to a superhero by supplementing its power with the following add-ons:

1. Zero Depreciation Cover :

Enhance your comprehensive plan by opting for the zero depreciation cover as an add-on. It will ensure that after an accident, you receive the full value of replaced auto parts in the claims process – without any deductions. Depreciation will not leave a dent in your settlement amount. It is worth purchasing because at some additional premium, you receive the gift of a peaceful mind.

2. Roadside Assistance Cover :

Imagine you’re driving down a deserted road in the city. As if that weren’t scary enough already, your car decides to break down and refuses to start. It can be quite inconvenient waiting for help to arrive, but not if you have roadside assistance cover. Under this, you will be entitled to services like fuel assistance, battery recharge, towing, and even flat tyre replacement from the insurance company. It’s the perfect sidekick to your comprehensive plan.

3. Accessories Cover :

Car accessories enhance the beauty and efficiency of your car while making your driving experience more pleasant and comfortable. Whether you have fitted an LED reverse parking screen or a high-end stereo system, it makes sense to protect these expensive and valuable features against loss by theft with an add-on accessories cover.

4. Engine Protection Cover :

Monsoons in India can often get out of hand. If your car is stuck in a flood or passes through a water-logged area, running a moist engine can cause early wear-out. The repair costs for this can be massive – but if you have an engine protection cover, both your engine and electronic circuit will stay protected.

Making the decision to purchase more than just a basic car insurance policy can not only save you from the threat of steep legal and medical expenses but also rescue you in sticky situations. With a little bit of homework on your part, you’ll be able to find a balanced policy that covers you sufficiently in several circumstances without paying for coverage you don’t need. So, be wise and choose well.

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