Significance of Having Car Insurance Policy

Car insurance has become just as important as having a life insurance policy in India. Having motor insurance is mandatory for all motor vehicles plying on road. It is compulsory by law that the motor vehicles at least have a third party car insurance policy in order to be eligible to drive their vehicle on road. However, having third-party motor insurance doesn’t mean you will be protected from all odds. This car insurance policy only secured you against any claim arising out of a third party. So you must ensure total protection by opting for the best comprehensive car insurance policy.

There are a plethora of motor insurance companies in India. However, you must make sure that you go for the top insurer since these providers guarantee easy claim settlement and all the necessary assistance that you could require against your motor insurance plan in case of an unforeseen accident.

There is a lot more significance of having a good car insurance policy than it appears. From protecting you against any possible damage to protecting you against a third party death or property damage claim – a car insurance policy does it all. To talk about the coverage, there are basically two types of car insurance plans: Third Party Car Insurance Plan and Comprehensive or Package Car Insurance Plan. Third party motor insurance plan only protects you against any third party claim arising out a third party death, property damage or injury. It doesn’t cover your own damage or loss.

But comprehensive car insurance is an optional cover which is a bit costlier than the third party auto insurance plan. However, it is worthy of having a comprehensive motor insurance policy since it covers third-party property damage as well as any damage to your own vehicle. So it’s always advisable to go for a comprehensive plan. 

Comprehensive auto insurance offers the following coverage:

• Covers third-party death, injury and property damage involving your vehicle
• Covers any damage or loss to your vehicle due to various natural calamities such as an earthquake, flood, storm, thundering etc
• Protects any damage or loss to your car against a number of man-made calamities such as theft, vandalism, fire, riot etc
• Protects your vehicle against damages while it is in transits via rail, road, air, elevator, inland waterway etc
• You can also avail personal accident cover along with the car insurance policy offered by some insurers online

But, before you settle down on a specific car insurance plan, it’s recommended that you compare various car insurance policies on offer from different motor insurance providers online on the basis of various features available with them. Make sure you compare car insurance policies from a reputed online motor insurance comparison portal such as GIBL.IN, India’s fastest growing online insurance marketplace to get an unbiased result. You must compare these policies on the basis of same IDV, highest claim settlement ratio, the broadest network of cashless garages, anytime assistance etc.