Buying a new car involves many different steps from comparison, to test-driving to even shortlisting your options. All these steps lead to selection of a suitable car insurance policy and same is the case for car insurance policies.
While various plans are available, choosing the right car insurance requires you to first know your requirements. Once you have identified these requirements, the next step is comparing the different available options. Comparison of various plans helps you narrow down to a handful plans that exactly meet your requirements. Followed by comparison, you must select a plan among the shortlisted alternatives and make the final purchase. However, to avail a complete coverage, you must know which plan to buy when selecting a car insurance online. Hence, it is advisable to buy a comprehensive car insurance for the following reasons:
- Comprehensive policy coverage
Car insurance policies are designed to ensure protection for third-party liabilities as well as any own damages to your car. It is due to the different components of a comprehensive plan—a third-party cover, own-damage cover and also the personal accident cover.
A third-party cover is the minimum required insurance coverage and protects you from legal liabilities arising due to injuries and even death of a third person or damages to their property. On the other hand, own damage cover ensures the repairs that are required for your car are compensated for. Lastly, a comprehensive plan also includes a personal accident cover which provides compensation for injuries to you, the policyholder in case of an accident. However, the personal accident is unbundled with a recent amendment in rules. Thus, you need not buy one if you already have an existing personal accident plan. *
- Customisation of insurance plans
With a comprehensive insurance policy, you can fine tune your insurance coverage. These plans can be customised over and above the standard comprehensive policies offering flexibility of coverage for every type of policyholder. Add-ons are one such additional way to customise the coverage. While add-ons cost over and above the basic price of your plan, the coverage offered is far greater compared to its impact on the car insurance prices. *
- No requirement of a separate third-party cover
As discussed above, a third-party is the minimum required insurance coverage for all car owners. Thus, even if you want the cheapest insurance plan, you’d have to buy a third-party coverage. But when you buy a comprehensive policy, such third-party cover is a part of the plan and hence, you need not separately purchase the minim required insurance policy. *
- Monetary savings
Opting for a comprehensive policy over third-party cover helps you save money in the long run. In case of an accident, it isn’t only a third person’s vehicle that is damaged. Your car also faces consequent damages requiring repairs. A comprehensive policy at such time helps compensates for the repairs that are required avoiding burning a hole in your wallet. *
- Facility for cashless repairs
If your insurance policy allows for cashless repair feature, you can take you vehicle at one of the network garages. Here, you need not pay for all the repair costs upfront, but instead, your insurance company directly settles the bill with such a network garage. Thus, helping you to avail cashless repair facility. *
* Standard T&C Apply
With these different advantages of a comprehensive insurance plan, it is best to opt for such policy instead of a third-party policy. To compare the premiums among different insurance companies, you can make use of a car insurance premium calculator. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.