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CAR INSURANCE

CAR INSURANCE OVERVIEW

Car Insurance, alternatively known as motor insurance or auto insurance is a specific policy that you buy for the protection of your vehicle against any sort of damages due to inescapable or unfortunate accident. Since India is a country mainly known for its vast population, car accidents have become a daily drama here. No matter how safely you drive your car or how responsibly you manage your vehicle, accidents can happen just as fast as we blink isn’t it? Imagine this: you parked your car outside a shopping mall and when you come back from shopping after a couple hours, with a bolt from the blue you discover a big dent on the back of your car. How do you deal with such situation? Well, fortunately, that’s when your online car insurance policy comes into its role play.

Types of Car Insurance Plans

In general, you will be offered two types motor insurance covers by a car insurance company within their car insurance plans. The Two types of motor insurance plans are Third Party Liability Car Insurance Coverage and Comprehensive Car Insurance Coverage.

# Third Party Liability Car Insurance

The first party who is the owner of a four wheeler buys a motor insurance policy from the second party that is the car insurance company for the protection against the claims of a third party that can be a driver of another vehicle, passengers or even pedestrians. Third Party car insurance policy is specifically designed to cover any property damages or bodily injuries to a third party caused by your vehicle. It’s obligatory to have third party car insurance for all motor vehicles piling on road in India.

# Comprehensive Car Insurance

Comprehensive car insurance is an optional car insurance policy that comes with higher level of protection for your vehicle. The best advantage of buying comprehensive car insurance in India is that it protects your own vehicle against various damages arising from accident, fire, vandalism or even theft plus it also takes care of the third party liability claims. Some extra features and benefits are offered with comprehensive car insurance plan by the best car insurance company in India. Given that the comprehensive auto insurance policy covers both third party damages and own damages, it’s the best car insurance plan for your four wheeler. At GIBL.IN, simply fill a form, compare and get the best comprehensive car insurance plan for your vehicle.

Add-On Covers for Car Insurance Policy

Like the name suggests, add on covers for motor insurance stand for additional coverage that are not included with a comprehensive auto insurance plan. To purchase add on cover for your vehicle, you’ll have to make some extra payment along with your car insurance premium. Best car insurance companies in India offer auto insurance policy buyers with a broad range of effective add on covers and attractive discounts. Car insurance company offers various add on covers from which you can pick as per your requirements for your four wheeler insurance. You can choose one or multiple add on covers for your auto insurance. Including add on covers in your motor insurance policy is subject to your car insurance premium. Some of the best add on covers for car insurance policies are following.

Zero Depreciation

The car insurance company will calculate depreciation on certain parts of your vehicle at the time of claim settlement. This procedure leads to getting less claim amount. However, purchasing Zero Depreciation or Nil Depreciation cover for your auto insurance policy entitles you to get the full amount on your claim.

Engine Protector

Car engine is not covered by an auto insurance policy in general. Engine Protect cover pays for any engine-related repairs or damages that are not related to accidents. This add on cover is mainly suggested for the owners with high end cars. Engine protector can be purchased in a policy for the cars up to three years of age.

Roadside Assistance

This is a very crucial add on to consider for your motor insurance policy. Car insurance company provides round-the-clock services like towing, refueling, change of flat tyre, arranging for a mechanic in case of vehicle breakdown under Roadside Assistance cover.

No Claim Bonus (NCB) Protection

No Claim Bonus is an additional discount on premium offered by car insurance companies to their policyholders for not filing any claim during a policy term. This discount is applicable on your auto insurance premium. This add on cover can help you save money on your car insurance premium by up to 50% on the basis of claim free years on your policy.

Inclusions and Exclusions of Car Insurance

Inclusions Exclusions
Own Car Damage for all damages that occur to your car due to accidents Damages caused if you’re caught driving under the influence of alcohol
Personal Accident Cover, in case of death or permanent disability in an accident, the insurer compensates you Loss and damages that are caused due to war and nuclear risk
Financial protection from Natural Calamities such as floods, earthquakes, etc. Accidental Damages caused while you were using your car for illegal activities
In case of Theft, your insurer will pay an amount equal to your IDV Losses incurred while driving without valid license
Man-made disasters including riots, strikes, fire, and terrorism is covered Regular mechanical expenses due to consistent wear and tear

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