Comprehensive car insurance is a motor insurance policy that covers losses/damages to you and your car and protects you against third-party liabilities. It is also known as a full-coverage policy as it protects your vehicle against various risks, such as accidents, fire, theft, vandalism, natural calamities, etc. A comprehensive car insurance policy offers personal coverage to the car’s owner-driver in case they get injured or dies in a car accident.
The premium for comprehensive car insurance has two parts: third-party and own damage. IRDAI fixes the third-party compensation based on engine capacity. The own-damage cost varies with car specifications and location.
Why Comprehensive Car Insurance?
While it is mandatory to have at least a third-party liability insurance for your car, it is advisable to invest in a comprehensive car insurance policy for the following benefits:
1. Cover Against Natural Calamities
India is prone to various natural disasters such as floods, cyclones, earthquakes, landslides, etc. These natural calamities can damage your car, resulting in substantial repair costs or total loss. A comprehensive policy covers any loss or damage caused by these disasters to your vehicle. For example, if your car gets submerged in water due to heavy rains or floods, your insurer will reimburse you for your vehicle’s repair.
2. Cover Against Man-made Hazards
Besides natural calamities, your car can also be damaged by artificial hazards such as riots, strikes, terrorist activities, vandalism, etc. These events can lead to partial or total damage to your car, affecting its functionality and appearance. A cashless car insurance policy covers any loss or damage caused by these events.
3. Cover Against Theft
Car theft is a common occurrence in India, especially in urban areas. If your car gets stolen, you will lose valuable assets and face financial hardship. A comprehensive car insurance policy covers loss due to theft of your vehicle. Your insurer will pay you your car’s current market value (IDV) if it gets stolen and is not recovered.
4. Cover Against Accidental Damages
Accidents can happen anytime, anywhere. Even if you are a careful driver, you cannot control the actions of other drivers on the road. Accidents can damage your four-wheeler and cause injuries to you or others involved. A cashless car insurance policy covers such damages.
Moreover, comprehensive car insurance offers the car’s owner-driver personal accident cover. This plan provides coverage for the death or permanent disability of the owner-driver due to an accident.
5. Access to Add-on Covers
A comprehensive car insurance policy allows you to customize your coverage and benefits by opting for various add-on covers. These add-on covers provide additional protection for specific scenarios not covered under the basic car insurance policy. Some of the popular add-on covers available with comprehensive car insurance policies are:
- Zero Depreciation Cover: This cover ensures that you get the full claim amount without any deduction for the depreciation of parts.
- Engine Protect Cover: This cover protects your engine from damage due to water ingress, oil leakage, etc.
- Roadside Assistance Cover: This cover provides 24×7 assistance in case of breakdowns or emergencies on the road.
- Return to Invoice Cover: This cover ensures that you get the original invoice value of your car in case of total loss or theft.
How to Buy Comprehensive Car Insurance?
Buying comprehensive car insurance is easy and convenient with online platforms. You can compare various plans from different insurers, choose the best one for your needs, and buy it online in a few clicks. You can also renew your policy online without any hassle. Some of the benefits of buying comprehensive car insurance online are:
- Save time and money: You can buy or renew your policy anytime, anywhere, without visiting any branch or agent. You can also save on premium by comparing various plans and choosing the best one for your needs.
- Get instant policy: You can get your policy document instantly in your email after paying online. You can also download or print your policy anytime from your account.
- Enjoy the paperless process: You can buy or renew your policy online without paperwork or documentation. You need to provide some basic details about yourself and your car.
- Avail discounts and offers: You can avail of discounts and offers on your premium by buying or renewing your policy online. You can also get cashback, rewards, or vouchers from multiple partners.
Comprehensive car insurance is a motor insurance policy that provides complete protection for your car against all kinds of risks, such as accidents, fire, theft, natural calamities, etc. It also covers third-party liabilities and personal accident cover for the owner-driver of the car. This policy is advisable for all car owners in India as it offers multiple benefits and peace of mind. You can buy or renew your car insurance policy online easily and conveniently from various platforms. You can also opt for numerous add-on covers to enhance your coverage and benefits.