According to the Motor Vehicle Act, all vehicle owners must have a valid car insurance policy for their cars. This ensures that all cars on the road are protected against expenses that may arise due to any damages. While the act only makes it mandatory to have valid third-party car insurance that covers the damages caused to the third party, it is better if you have a policy that protects you in all situations. This is mostly because you never know what situation you might land yourself in and it might be expensive if you need to pay for repairs or damages on your own.
What is a Comprehensive Car Insurance policy?
A comprehensive car insurance policy is an overall car insurance cover that protects you in all situations including accidents, thefts, natural calamities, and third-party liabilities. Even though this type of insurance premium is higher than that of the third-party cover, the benefits are immense. You are covered in case of any repair or replacement that your car needs which can be expensive otherwise. Along with other benefits, you also get personal accident cover which covers your expenses in case of an accident.
One way in which this type of policy is different from a third-party policy is that you are eligible for add-ons. Add-ons are extra features that you can opt for to get further benefits and protections against specific situations. Some of the add-ons are-
a. Zero Depreciation Cover- Get the claim amount from the company without accounting for depreciation.
b. No Claim Bonus- Get rewarded as discounts for every non-claim year.
c. Engine Protection cover- Cover your expenses for any kind of damage caused to the engine
d. Roadside Assistance Cover- With this add-on you can say goodbye to being stranded on the side of the road
for long periods.
e. Tyre Protect Cover- You are protected against any kind of damage caused to your car’s tyres.
What are the benefits of a Comprehensive Car Insurance policy?
Even though you are liable to pay a higher premium for this kind of policy, the benefits you gain make it worth it. After all, it is ways better to be protected in all situations than be protected in only a few. Some of the benefits are-
1. Stress-free travel- Since you have overall protection, you can have a relatively stress-free driving experience. This does not mean that you stop paying attention to the road!
2. Saves money- If you have opted for this policy, you don’t have to get separate third-party insurance. Since this policy covers all the features of the other policy, you just have to pay for one policy and gain the benefits of all policies.
This type of policy is suitable for people who have recently purchased a new car, people who want to use their car for long road trips, or those who want their cars to be safe and protected in all situations. If you have a luxury car or if you are a clumsy driver then this policy is recommended as well. To know more about comprehensive car insurance, click here!