A car happens to be the dream possession of every individual. Hence, saving this prized possession from every conceivable risk forms your priority. This is why you need to get a car insurance plan. While there are several providers for this policy in the market, the consumer needs to make sure he/she selects a comprehensive plan. A comprehensive plan aims to cover most of the risks your car could possibility run in. Read on to know more -
Vehicle Damage -
The greatest risk your car could face is that of damage due to an accident. A car insurance plan covers such perils and helps you bear the cost incurred in repairing and getting your car back on the road. This facility is enhanced with the introduction of cashless facilities at insurer's preferred garages across the nation. The policy holder automatically takes care of the payments and you are spared the hassle of the claim settlement process. The policy also extends to cover damages in case of man-made and natural perils. Under man-made perils the policy covers damage to car in case of theft, riot, strike, malicious act, terrorist activity, damage and transit. Damage due to natural calamities like earthquake, fire, flood, hurricane, landslide, lightning, inundation and many more are covered by the policy.
The greatest risk your car could face is that of damage due to an accident. A car insurance plan covers such perils and helps you bear the cost incurred in repairing and getting your car back on the road. This facility is enhanced with the introduction of cashless facilities at insurer's preferred garages across the nation. The policy holder automatically takes care of the payments and you are spared the hassle of the claim settlement process. The policy also extends to cover damages in case of man-made and natural perils. Under man-made perils the policy covers damage to car in case of theft, riot, strike, malicious act, terrorist activity, damage and transit. Damage due to natural calamities like earthquake, fire, flood, hurricane, landslide, lightning, inundation and many more are covered by the policy.
Third Party Liability -
As per the Motor Vehicle Act, every car needs to have a cover for at least third party liability. Hence, every motor insurance policy offers cover for such a mishap. In case of a car accident that leads to damages to third party property or cause bodily injuries, the policy owner may be forced to pay compensation. Car insurance protects you against such legal liabilities. The limit to be paid for the third party property damage is pre-defined and limit for bodily injury or death is unlimited.
As per the Motor Vehicle Act, every car needs to have a cover for at least third party liability. Hence, every motor insurance policy offers cover for such a mishap. In case of a car accident that leads to damages to third party property or cause bodily injuries, the policy owner may be forced to pay compensation. Car insurance protects you against such legal liabilities. The limit to be paid for the third party property damage is pre-defined and limit for bodily injury or death is unlimited.
Cover for car owner -
There are chances that an accident may leave the car owner in a critical condition. This is why a car insurance plan extends to cover such situations as well. The policy offers financial cover for the policyholder in case he is injured during travelling by his insured vehicle. The maximum compensation limit is mostly of Rs. 2 lacs and should ideally be claimed within 6 months of injury.
There are chances that an accident may leave the car owner in a critical condition. This is why a car insurance plan extends to cover such situations as well. The policy offers financial cover for the policyholder in case he is injured during travelling by his insured vehicle. The maximum compensation limit is mostly of Rs. 2 lacs and should ideally be claimed within 6 months of injury.
Cover for fellow passengers -
The car owner is also responsible for the fellow passengers in the car. This is why many policies offer the option to buy a cover for the co-passengers as well. A particular sum is offered to cover the damages suffered by the fellow-passengers. However, it is up to the car owner to add one to his policy or not.
The car owner is also responsible for the fellow passengers in the car. This is why many policies offer the option to buy a cover for the co-passengers as well. A particular sum is offered to cover the damages suffered by the fellow-passengers. However, it is up to the car owner to add one to his policy or not.
Apart from these benefits and comprehensive car insurance plan also offers a number of add-ons that you can attach with your plan to make it all the more foolproof. This improves the cover you get for your car.
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