Are you a vehicle owner in India and planning to buy insurance coverage for your car? With the number of plans available, you may be confused about which one to buy. A comprehensive car insurance plan is often the go-to for new car owners since it’s a one-stop solution for all your car insurance coverage needs.
However, it’s important to know the extent of comprehensive car insurance coverage. Like any insurance plan, comprehensive plans also have their limitations. So, it’s best to know what you can claim coverage for.
What is Comprehensive Insurance for Cars?
Comprehensive insurance is an insurance policy that offers coverage for damages caused to your car and against damages your car may cause to other people or property.
With comprehensive car insurance coverage, you can get coverage for car theft, road accidents, damage from natural disasters like floods or earthquakes and man-made calamities like riots and strikes.
Full Coverage Car Insurance Benefits
- Protection Against Theft
One of the notable advantages of comprehensive car insurance is that it protects vehicle owners from theft. Car theft is a very common issue in most areas, but having comprehensive car insurance coverage can give you peace of mind. If the car gets stolen, you will be compensated for your loss.
- Protection Against Natural Disasters
Natural disasters such as floods, hurricanes, tornadoes or wildfires can come without a warning. They can cause severe damage to your vehicle. But with comprehensive insurance for cars, you get protection against these situations. With the help of comprehensive car insurance coverage, you can replace and repair your vehicle damaged by natural disasters.
- Third-Party Coverage
The benefits of comprehensive car insurance include coverage against damage your car may cause to others (people or property). This includes any legal trouble that may arise from situations involving other people. This means that rather than paying any compensation for damages your car may have caused, your comprehensive car insurance coverage will take care of it.
What are Car Insurance Coverage Limits?
- Comprehensive car insurance coverage has limits based on the ACV (Actual Cash Value) of your vehicle. It’s also commonly called the Insured Declared Value (IDV). If the cost of repairing a car is more than its IDV, then insurers will declare it as a loss and pay the depreciated value minus the deductible.
- While comprehensive plans will cover damages to your car, not every single part of your car will be covered. For instance, damage to your engine is not covered under a comprehensive plan, so if you require this type of coverage, you will need to purchase an add-on.
- Comprehensive coverage also only covers damages caused to your car within the geographical boundaries of India, and it also will not cover regular maintenance or service costs.
Conclusion
Comprehensive insurance for cars is a big benefit for all car owners as it offers financial assistance for the replacement and repair costs of your vehicle in any unforeseen event. It protects your vehicle from damage, helps you save money and offers peace of mind. So, what are you waiting for? Buy a comprehensive car insurance coverage policy for maximum benefits.
Readalso: What VIP Airport Support Really Looks Like for C-level Executives and Their Teams
