Who does not require holistic protection for their car? While everybody wants that, selecting the appropriate car insurance policy may be a tiring job. Think of it this way, if you can buy car insurance online that can give 360-degree coverage then nothing better than that.
This is where a bumper-to-bumper car insurance policy comes into action. Under this plan, your insurer does not deduct depreciation from the value of parts of the car that have been repaired or replaced.
However, what are the instances when a comprehensive car insurance policy becomes necessary? Let us find out.
Instances in Real Life Where You Need Motor Insurance
When your vehicle is damaged or has entered into a collision with another vehicle, your insurance policy can help you cover the repair cost of the damage done to your car or bike.
When you injure another driver, or do any damage to his car or bike in a collision, then the third-party motor insurance liability cover protects you from all possible legal liabilities for injury or property damage done to another person due to an accident in which you were involved.
In situations where your car has been involved in a collision with another car and you suffer a major injury, then the personal accident car insurance cover gives you protection where 100% claim coverage is given in case of death or severe limb injury.
When in a situation where your vehicle is involved in a collision with another vehicle and the other driver is injured, your motor insurance will cover the treatment costs of the other driver in case they do not have personal accident insurance coverage. This also takes into account the compensation claims filed by the third party’s family in case of their death.
In case your vehicle is stolen from your parking lot or has been destroyed in a collision, your insurer will compensate for the depreciated cost of your vehicle at the time of the mishap.
If your car’s engine or electronic circuit is damaged by floods, then the engine guard add-on in your motor insurance policy provides compensation for the damage suffered.
If your car or bike suffers an accident or has a serious breakdown on a remote highway, a roadside assistance add-on will assist you. This gives comprehensive coverage for everything, starting from punctures to battery failures.
In case your phone and laptop are stolen from your car, then an insurance add-on to your four-wheeler insurance policy compensates the customers for the theft of belongings present in a locked car, and this gives coverage per the policy terms.
In case you are stuck without your car as it is being repaired after an accident, then the daily allowance add-on reimburses you for the expense that you incur in finding an alternative transport applicable in situations where your car is damaged or stolen.
Types of Car Insurance
Third-Party Liability Only Cover
The Motor Vehicles Act makes it a point that third-party insurance coverage is a must for driving on roads. A third-party motor insurance policy provides coverage for damages to third party persons or property due to the insured vehicle.
Own Damage Cover
When you select own damage car insurance policy, the cost of the repairs to be done to your vehicle will be reimbursed. This policy does not cover third party damages and can be purchased if you already have third-party motor insurance.
Comprehensive Car Insurance
This gives the premium level of protection as it deals with liability for third parties and damage to own vehicle due to man-made and natural causes. This policy has the maximum coverage and, therefore, its premium is also higher.
Add-On Covers for Your Car Insurance Policy
There are several add-ons that you should consider when you have the thought to buy car insurance online:
- Zero-depreciation cover
- Roadside assistance for your vehicle.
- Engine replacement cover.
- NCB Protection Cover.
- Geographical extension cover.
- Consumables protection cover.
Tips to Follow While Buying Motor Insurance
To get an online car insurance policy here are the 5 tips that you should follow:
- Choose the best coverage within your budget
- Evaluate the Insured Declared Value
- Examine the premium
- Examine the insurer’s claim settlement ratio
- Compare various motor insurance plans and their cost
Conclusion
Thus, to sum up, motor insurance is one of the most important aspects of owning a motorised vehicle. Select the policy with the best coverage within your budget when you purchase car insurance online.
The right motor insurance policy can save you from high out-of-pocket expenses when an unwanted incident occurs with your car or bike. Therefore, always ensure that you buy car insurance online or offline from a reputed insurer.
