Buying a car is a joyous moment that we all cherish; it is like a dream come true for many. But as you spin around your favourite set of wheels on road, little do you think about meeting or causing an accident. But do you know owning a comprehensive car insurance policy could save you from a whole lot of financial damages that could arise when you meet with an accident. Though owning third party car insurance is mandatory as per the law, it is best to insure your car with comprehensive insurance.
Comprehensive insurance provides you coverage against any accidental loss or damage to your car. Additionally, it also provides coverage against third party or property damages.
Here are a few reasons why you should insure your priced possession i.e. your vehicle with a comprehensive car insurance policy.
You are covered against natural calamities
If you car gets damaged due to unpredictable weather conditions then you can easily make a claim to get cover the cost of the damages. Owning a comprehensive car insurance cover insures your vehicle against natural calamities such as floods, landslides, earthquakes, etc.
It insures your vehicle against man-made acts too
Comprehensive car insurance cover saves you from the huge financial burden that you will have to bear due to man-made acts such as riots, theft, vandalism, etc. The insurance company gives you the money for covering the damages or pays you the current IDV of your car.
It is affordable
When it comes to choosing between third party and comprehensive cover, it is always a wise choice to opt for the latter. This is because comprehensive insurance policy is more economical and cost-effective than third party. It is important to note that comprehensive cover is a mix of own damage and third party. So by just paying a few extra bucks you can always insure your car with the best type of vehicle insurance. Simply compare the coverage offered and you would understand the difference yourself.
Helps you stay stress-free
Comprehensive car insurance cover saves you from a lot of stress in tough situations such as damages caused to your car, third party injury, death of the third party or even damages caused to the property. Opting for this cover ensures you complete peace of mind.
Enhance your comprehensive policy with add-on covers
One of the best benefits of opting for a comprehensive insurance policy is that you can enhance its coverage by purchasing add-on covers with it. Different type of add-on covers you can add to your comprehensive policy are: zero depreciation, no claim bonus, road side assistance, engine protection, invoice cover, personal accident cover, etc.
A comprehensive car insurance policy does not provide cover for the following:
Mechanical and electrical breakdown of the car
Regular wear and tear of the car is not covered
Damage/loss caused due to nuclear risks or war
Damage/loss caused outside the prescribed geographical area
Damage/loss caused if the car is used for any other purpose other than those specified in the policy terms.
Damage/loss caused if at the time of accident the driver was under the influence of alcohol.
Damage/loss caused if the driver does not hold a valid driving license.
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