Tuesday, 19 Nov 2019

How Does a Car Insurance Protect You?

Car insurance acts as a shield by protecting you from the financial burden of being liable for damages caused to another person’s car or an injury caused to someone with your vehicle. It also helps to protect you from damage to your own car, including theft, vandalism or natural disasters.

Always know your needs and make sure that your car insurance cover meets them. Your premium rates will be calculated based on the coverage and IDV. Therefore, compare car insurance as per your needs and budget before buying it. As per The Motor Vehicles Act, 1988, it is mandatory to have car insurance for all the car owners in India. The coverage offered in an insurance policy differs among insurance providers through the following factors:

Bodily injury liability:

It covers bodily injury caused to the third party involved in a car accident.

Vehicle damage liability:

It provides cover for any damages incurred by the third party vehicle involved in the accident.

Property damage liability:

Property damage liability offers coverage for the damage to any external property affected due to an accident caused by the insured’s car.

Medical expenses:

Medical expenses incurred due to any unforeseen accident are covered under comprehensive car insurance provided the personal accident cover has been added.

Collision and comprehensive coverage:

Most car insurance policies cover the damage caused due to the insured’s car colliding with another car or object. These policies also cover losses due to theft or damage caused due to natural calamities.

Therefore, it is necessary to know all the details before proceeding with one plan. In comprehensive car insurance policy coverage, there are certain exclusions. Following is the list of exclusions that a car owner should be aware of, as it will be helpful in having a hassle-free car insurance accident claim.

No coverage is provided in the following cases:

– If the car driver is under the influence of alcohol or any other intoxicant

– If the car driver does not possess a valid license

– An accidental loss that is deliberate in nature

– Wear and tear due to aging of the vehicle

A claim is not recoverable if the insurance company has rejected the claim at the first time and the insured one has not taken up this matter in court within 12 months of claim rejection. Ensure that you are aware of the car insurance claim process by reading on it on the website of your insurance provider.

It is essential to know all the necessary details along with terms and conditions of a car insurance policy before choosing the final one. Online insurance has made all the information easily accessible at any time. An individual can get a car insurance policy quote online using a car insurance premium calculator. Even the policy details are easily available on the website of the insurance company.

Therefore, whether it is a third party car insurance online or comprehensive car insurance cover, online insurance can help you with all your answers and address all risks in an easy and simple way.

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