Comprehensive car insurance combines third-party car insurance and own damage insurance into a single policy. As per the Motor Vehicles Act, it is mandatory for all the motor vehicles plying on Indian roads to get a third party liability cover. But such a cover does not pay for any damages that your car may sustain in an accident. Therefore, you must opt for a comprehensive car insurance policy for complete financial protection in the aftermath of an unforeseen event. A comprehensive car insurance will also protect you from losses from car theft, or any damage to the car resulting from causes other than traffic collisions. As buying a car is a large investment, it is prudent to insure the same to safeguard your investments.
A comprehensive car insurance policy covers losses/damages to you and your car in addition to protecting you against third-party liabilities. You should opt for this type of car insurance if you wish to get financial protection from losses caused due to accidents, theft and natural disasters. The comprehensive plan is recommended by experts for all-round financial protection.
The premium for such a policy consists of both a third-party premium and an own-damage (OD) premium. While the third-party premium is decided upon by the insurance regulator, OD premium varies based on the car’s make-model, age of the car, engine capacity, and geographical zones.
In case you do not already have the requisite Personal Accident Cover (PAC), you can also opt-in for the same along with your comprehensive car insurance. The government of India mandates that all drivers on Indian roads have a PAC of at least ₹15 lakh sum assured.
While it is mandatory that you get at least a third-party liability car insurance, it is better to instead invest in a comprehensive car insurance as it would also provide you with:
The weather conditions have become highly unpredictable. A sudden downpour can lead to flash flooding almost in any city in India. Such a flood could also cause damage to your vehicle. This is where a comprehensive car insurance can come in handy and save you on repair expenses.
But natural calamities are not the only risk your car faces. It could also be stolen or be subject to other malicious acts. A comprehensive car insurance policy would also protect you from the financial implications of such an act.
A comprehensive car insurance includes a third party liability cover by default.
Not everyone has the same car insurance needs. You can customize your car insurance policy through add-on covers that provide protection under specific conditions that are more likely to affect you. Some of the more popular add-on covers include zero depreciation cover, engine and gearbox cover and return to invoice cover.
If you are still not convinced, here are a few more benefits of buying a comprehensive car insurance policy:
Some of these scenarios may seem a little far-fetched, but they are within the realm of possibilities. While you cannot predict when an accident may happen, it is best to be prepared for all eventualities when a large investment in involved.
When you buy an insurance cover from ICICI Lombard General Insurance (Bharti AXA General Insurance*), you join a family of over a millions satisfied customers. You can reach out to our team any time of the day, from anywhere in the country for assistance with your car insurance policy. You just make a call to our numbers and we would guide you through the simplified claims process to ensure that the settlement happens as soon as possible.
You also get access to our vast network of cashless garages, allowing you to get your car repaired without having to shell even a single rupee from your pocket. The claims are settled in a completely hassle-free manner and the payment made directly to the garage. Our strong online presence allows you to not just buy and renew policies online, but you can also file claims completely online making the process much simpler than ever before.
ICICI Lombard General Insurance (Bharti AXA General Insurance*) also offers a large bouquet of add-on covers through which you can customize your coverage to your specific requirements.
A comprehensive car insurance policy combines a third party liability cover, an own damage cover and an optional personal accident cover in a single car insurance policy.
Comprehensive car insurance policies can be classified based on the policy period. You can opt for an annual car insurance policy or a long-term car policy with a term of three or five years. You could also opt for a bundled policy where the TP component is long-term while the own damage component is annual.
Unless the value of your car has depreciated to a level as low as ten times the own damage car insurance premium, it is better to opt for a comprehensive car insurance. A comprehensive car insurance always includes third party liability cover by default and offers coverage against own damage in addition.
No, only a third party liability car insurance and a personal accident cover are compulsory.
Yes, a comprehensive car insurance provides financial protection from natural disasters. Please refer to the policy document for the exact coverage provided.
Once you have filed a claim against your comprehensive car policy, the insurer would assign a surveyor to assess the damage and estimate the cost of repairs. Once your claim is verified as genuine and approved, the costs would be reimbursed to your bank account or paid directly to the garage in case of a cashless settlement.
Comprehensive car insurance can have a policy period of one, three or five years. Please refer to your policy documents to find out the exact validity.
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