In India buying a car insurance policy is not an option it is a compulsion as it is mandated by motor vehicle act 1988. With the advent of the internet, online car insurance policies are easily available. To cater to the increasing number of vehicles in India, scores of car insurance companies in India have come into being. Along with age-old public sector car insurance companies, many private general insurance companies also offer car insurance plans with unique features. Car insurance online plans are highly sought-after as these policies are issued instantly upon making the payment online. You can pay through net banking or through your debit and credit card and get your online car insurance plan instantly. You can follow the same easy process to renew your policy online as well. You can even buy car insurance online from your smartphone on the go and from anywhere and at any time of the day.
In terms of motor insurance coverage, liability coverage is mandatory as per the Motor Vehicles Act. A liability-only car insurance online plan safeguards policyholders’ liabilities to third parties if their insured car is involved in any mishap that leads to third party property damage or casualty. This liability coverage pays out unlimited financial compensation in case of third party death and physical accidental injuries. However, liability coverage of car insurance online plans doesn’t cover damages to the insured vehicle.
If you want to cover your own car, you have to avail a car insurance plan with comprehensive coverage. A comprehensive car insurance plan covers financial losses of policyholders due to theft and damages to the insured vehicle due to a plethora of natural and man-made perils. Online car insurance plans also provide owner-driver of the insured vehicle with personal accident coverage. The Sum Insured amount of personal accident coverage of car insurance plans varies between Rs. 1 Lakh to Rs. 3 Lakhs and it is payable in case of policyholders’ death an permanent and temporary disablement of total and partial types. This personal accident coverage can be extended to the pillion riders of the insured vehicle by paying an additional premium on your car insurance online plan. The accessories of the car can also be covered by paying an extra premium on your online car insurance online policy.
Lately, car insurance companies have come up with a range of add-on covers that you can avail to enhance the regular comprehensive coverage. You can avail add-on covers like Zero Depreciation cover, Return To Invoice cover and Engine Protector cover to strengthen the coverage of your existing comprehensive motor insurance policy and also to ensure that you can make successful claims and get a full return.
So it can be said that to provide complete protection to your very own four-wheeler, it is always suggested to opt for Comprehensive car insurance.
No comments:
Post a Comment