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Things You Should Know About Car Insurance

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Introduction

Car insurance is an easy product and thankfully there is an abundance of lucid information available on the internet. One can check all data on vehicle insurance online. Car insurance is the most important requirement to have, when one chooses to accelerate. Driving without insurance is punishable in India, but one should not buy vehicle insurance for that reason. One should buy it for peace of mind and myriads of other real benefits. Everyone should buy car insurance because our future is uncertain. One may become a victim due to another driver’s negligence. But unless one has car insurance, one cannot claim it even if it was the other driver’s fault. Car insurance also prevents one from being tried in court for any injuries to a third party. Car insurance provides a family with a corpus amount when a key member of the family has passed away. If there was no car insurance, then the family would have to earn a huge sum of money from scratch. This would take them many years to earn. If one does not have insurance, one would have to use personal savings to get the car fixed after an accident and pay hospitals. To summarise, vehicle insurance pays for damages, it reduces one’s liability, it pays for your hospitalization, and compensates the family after one’s demise. Bharti AXA can assist you with finding the most appropriate insurance.

The two main types of car insurance are Third-party insurance (mandatory) and Comprehensive insurance:

Regular car insurance

Third-party insurance policy is purely purchased for protection against the claims of another. It provides coverage only against damages and losses, which are incurred by drivers who are uninsured. The drivers who cause damages are called third party. It essentially is a form of liability insurance purchased by first party, which is the driver for protection against the claims of another (third party). The first party is fully responsible for all damages and losses, regardless of the cause of those damages. Such an insurance is mandatory by Indian law. The types of third-party liability coverage are body injury liability and property damage.

Comprehensive car insurance

Comprehensive car insurance policy gives total protection against all damages to both parties. Comprehensive car insurance covers damages to car, theft, liability to third-party, and personal accident cover. It provides end-to-end coverage. One risks paying from one’s pocket for expensive repairs, if one does not have comprehensive insurance cover. Comprehensive car insurance costs more than third-party insurance cover. Comprehensive car insurance policy also covers damages arising out of theft, fire, natural disasters, damage by animals, riot, etc. It is the best form of protection for one’s vehicle and is highly recommended to buy it. You can check Bharti AXA insurance products that provide all the requisite benefits and much more. 

There are some important factors to consider before finalizing car insurance:

Premium

Online comparison is beneficial and there are many websites that provide that option. One can compare premium across insurance plans. This data is easily available online. However, before comparing premiums, you should factor all features and add-on riders. Vehicle insurance online can offer you all the requisite information.

Smooth service distribution

The distribution network of the insurance company should be strong and it should be available 24x7.

Additional riders

Below are some popular riders, which can be added on optionally:

  1. Add-on cover for car insurance
  2. No Claim Bonus (NCB) Retention
  3. Zero Depreciation
  4. Daily Cash Allowance

Personal Accident Cover

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Disclaimer :The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Insurance needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice for Travel/Health/Motor. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.

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