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- Comprehensive Car Insurance
Comprehensive Car Insurance
A comprehensive insurance policy protects car owners against losses and damages arising from accidents, fire, theft, etc. This private car package policy covers damages to the insured vehicle as well as third-party liabilities.
What is Comprehensive Car Insurance?
Comprehensive car insurance is a type of motor insurance policy that is designed for private car owners seeking complete protection for their cars against risks, such as accidents, theft, third party liabilities, natural calamities, etc. Under this policy, the insurance company provides compensation for vehicle repair or part replacement in case of total or partial loss or damage.
Comprehensive insurance coverage for cars includes both own damages and third party liabilities, covering third party death, disability and property damages. Additionally, it offers personal accident coverage for the owner-driver of the insured car in case of injuries or death due to a road accident.
Coverages Under Comprehensive Car Insurance
Accidental Damages
If your car suffers any loss or damage following an accident, the comprehensive insurance policy will cover it for you.
Fire Damage
In case your car catches fire, this motor insurance policy will cover any loss or damages resulting from it.
Car Theft
If your car gets stolen, your motor insurer will compensate you with its current market value (IDV) if you have a comprehensive car insurance policy.
Damages Due to Natural Calamities
In case a natural calamity strikes your neighbourhood damaging your car partially or completely, this insurance will cover the damages or losses incurred. Natural calamities include cyclones, floods, earthquakes, landslides, etc.
Third-Party Losses
This type of car insurance will cover any third party damages or losses caused by the insured car, including property damages, bodily injuries or death of a third party person.
Damages due to Manmade Hazards
If your car gets totally or partially damaged following a manmade hazard, your comprehensive car insurance policy will cover the damages or losses incurred. Manmade hazards include strikes, terrorist activities, riots, etc.
Vandalism
If your car gets damaged or suffers from a total loss due to vandalism, this policy will pay for the repairs or losses incurred.
In-transit Car Damages
In case your car gets damaged while being transported via land, water or air, your motor insurer will pay for its repairs under this car policy.
Personal Accidental Injuries or Death
A comprehensive four-wheeler insurance policy not only covers the car from any damages or losses but also provides coverage to its owner-driver in case he/she gets injured or dies in a car accident.
Drunk Driving
Comprehensive insurance does not cover any damages or losses incurred if the driver is caught driving under the influence of alcohol.
Depreciation
If the value of your car and its parts gets depreciated, your policy will not compensate for the depreciated value.
Contributory Negligence
Comprehensive car insurance does not cover any loss or damages to your insured car due to any contributory negligence on your part. For example, taking your car near the low-rise areas despite a cyclone warning.
Electrical & Mechanical Breakdown
If the insured car suffers an electrical or mechanical breakdown, you will have to pay for the resultant expenses on your own.
Driving Without a Licence
Comprehensive car insurance does not cover any damages or losses incurred if the driver is found driving the insured car without a valid driving licence.
Normal Wear & Tear
If the insured car suffers any loss or damage due to regular wear and tear, you will have to pay for repairs on your own.
Non-accidental Damages to Tyre/Tube
Comprehensive insurance does not cover any loss or damages to the tyre or tube of the insured car if it has not met with an accident.
War or Nuclear Perils
It does not cover any loss or damages caused to the insured car as a result of war, war-like operations, nuclear weapons or other related perils.
Consequential Damages
Comprehensive car insurance does not cover any consequential loss or damages suffered by the insured car. For example, damage to the tyres while the car is being towed.
Add-on Covers Under a Comprehensive Car Insurance Policy
A comprehensive motor insurance policy can be customized with add-on covers to increase the level of protection for your car. Add-ons come at an additional premium and offer additional coverage to your car. Here are some of the most common add-on covers offered by car insurance companies in India:
Also known as nil depreciation or bumper to bumper cover, it enables you to avoid paying for the depreciating value of your car at the time of claim settlements. Typically, It is available only for cars aged 5 years and below. However, some insurance companies have started offering zero dep cover for vehicles aged up to 10 years.
The tyre protector cover covers damages to your car's tyres/tubes from an accident involving the insured car. With this add-on under your comprehensive insurance, the insurer will pay for the repair or replacement of your car's tyres/tubes during claim settlement.
Also known as Return to Invoice (RTI) Cover, it ensures that the insurer will pay you the original invoice price of the car in case of total loss or theft claims. Invoice cover is ideal for car owners who've just bought a new car.
With RSA cover, the insurer provides you with the emergency assistance in case of a car breakdown due to a flat tyre, empty fuel tank, loss of keys, etc.
This add-on covers all consumables used in repairing the insured car, such as washers, nuts, coolant, bolts, engine oil, etc.
With engine protection cover, the cost of repairing or replacing the engine and gearbox of the insured car is covered.
This add-on covers the cost of replacing your car keys and locks if you have lost the original keys.
Some other add-ons include Loss of Personal Belongings, Daily Allowance, No Claim Bonus Protector, etc.
Benefits of Comprehensive Car Insurance
When driving a car, you and your vehicle are vulnerable to a variety of risks. A third party car insurance policy provides only half the protection, keeping your car exposed to various other risks. This is why buying comprehensive car insurance becomes necessary. Here are some key benefits of comprehensive insurance:
Apart from the mandatory third party liability cover, comprehensive car insurance also covers damages sustained by the insured car due to theft, accident, fire, natural and manmade disasters, etc., ensuring exhaustive protection and stress-free driving.
With comprehensive insurance, you can opt for various additional covers for a slightly extra premium to enhance your policy coverage. Some essential add-ons include zero dep, roadside assistance, return to invoice, engine protection, etc.
A compulsory personal accident cover is also offered with a comprehensive car insurance policy. This cover provides compensation of up to Rs. 15 lakh against the death or disability of the owner/driver of the insured car resulting from a car accident.
When you purchase comprehensive car insurance, you are also entitled to a No Claim Bonus reward for every claim-free year. You can use the NCB to get a discount on car insurance policy renewal premium.
With comprehensive car insurance, you can also take advantage of cashless claims at the time of claim settlement. Under this facility, the policyholder can get the insured car repaired in an authorized network garage without paying anything from their pocket. The insurer settles the repair bill directly with the garage.
Comprehensive Car Insurance for an Old Car
Comprehensive car insurance covers all types of cars, whether old or new. While it is a must for new cars, you can also get your old car insured under the comprehensive insurance policy if you still use it.
However, you must consider the age of your car as well as how long you plan to continue using it before deciding on buying comprehensive insurance coverage.
For example, let's say you have an 11 years old car that you use regularly and plan to use until the next four years. In this case, buying comprehensive car insurance would be a good decision and not an expensive one. This is because older cars have lower market value and hence, one can get his/her car insured for a lower premium. Since the risk associated is more, most insurance companies do not sell comprehensive insurance for cars that are 15 years old or more.
Who Should Buy Comprehensive Car Insurance?
Below is the list of people who should buy comprehensive insurance for their cars:
- New Car Owners: Comprehensive insurance is highly advised for new car owners. It provides complete protection against theft, accidents, natural calamities, etc., ensuring financial security and peace of mind.
- Frequent Travelers: If you regularly drive your car or often travel long distances, a comprehensive car insurance policy can protect you from potential financial losses due to unforeseen incidents.
- Residents of High-risk Areas: If you live in an area with heavy traffic or a higher risk of natural disasters, comprehensive car insurance can help cover repair expenses.
- Luxury Car Owners: Comprehensive insurance is also crucial for owners of luxury or high-end cars due to their expensive parts. With this insurance, you can avoid hefty repair costs.
- New Drivers: If you have recently learned to drive, you are more likely to have accidents. Hence, comprehensive car insurance is recommended to cover expenses during claims.
How to Calculate Comprehensive Car Insurance Premium?
To calculate the premium of comprehensive car insurance, follow these steps:
- First, know the IDV in car insurance
- Check your car's make, model, age, & RTO.
- Consider your car usage and evaluate your coverage requirements.
- Review add-on covers and deductibles in car insurance.
Now, you will get an estimate of the car insurance premium you will pay.
Alternatively, you can use a car insurance calculator online to determine the premium amount you need to pay for your comprehensive car insurance policy.
Comprehensive Car Insurance v/s Third Party Car Insurance
Here is the table that shows the major differences between comprehensive car insurance and a third party liability policy to help you make the right choice:
How to Buy Comprehensive Car Insurance Online?
Follow these simple steps to buy comprehensive insurance for your car online:
- Visit Policybazaar.com and choose 'Car Insurance' on the homepage.
- Enter your car number in the given form. (In case of a new car, select 'Brand New Car.')
- Now, select car details like make and model, fuel variant, RTO, etc., and provide your contact details.
- From the list of car insurance quotes by different insurers, select a plan that suits your coverage needs and budget.
- Select any add-on covers you may want in addition to your comprehensive insurance policy.
- Pay the final premium amount online via cards, net banking, or UPI.
- After the successful payment, your comprehensive car insurance policy will be sent to your registered email ID.
Comprehensive Car Insurance Claim Process
To raise a claim for your comprehensive car insurance, follow this simple procedure:
- Notify your insurance company at the earliest about the unfortunate incident.
- Fill out the car insurance claim form online and provide the relevant documents.
- The insurer will then appoint a surveyor to evaluate the damage and estimate the repair cost.
- Once approved, you can take your car to the nearest authorised network garage.
- After repairs, your insurer will settle the claim amount directly with the garage.
FAQs About Comprehensive Car Insurance
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Q1. Is purchasing comprehensive car insurance compulsory?
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Q2. Can I renew my comprehensive car policy online?
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Q3. Is comprehensive insurance the same as bumper to bumper?
Ans: Yes. A comprehensive car insurance policy is also referred to as bumper to bumper insurance. It covers damages to your own vehicle from accidents, theft, fire, natural or man-made disasters, as well third-party liabilities. -
Q4. Will I need any documents to raise a claim under a comprehensive car insurance policy?
Ans: Yes. To file a comprehensive car insurance claim, you need to submit the below-mentioned documents:
- Copy of driving licence
- Comprehensive insurance policy documents
- Copy of Police FIR
- Copy of car’s registration certificate
- Repair bills and estimates
- Duly signed and filled claim form
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Q5. What is the duration of a comprehensive insurance policy?
Ans: The duration of a comprehensive motor insurance policy is one year. A policyholder is required to renew his/her car policy before the expiry date. -
Q6. Can I transfer my NCB discount if I change my insurer?
Ans: Yes. You can transfer your NCB discount when you renew your car insurance policy from any other insurer on Policybazaar.com. -
Q7. Can I claim insurance for car bumper damage?
Ans: Yes. If you have comprehensive car insurance, you can make a claim for the car bumper damage. However, you will have to bear the depreciation cost of the bumper and other parts, unless you have the zero depreciation add-on in your car insurance policy.
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#Rs 2094/- per annum is the price for third-party motor insurance for private cars (non-commercial) of not more than 1000cc
*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.
+Savings are based on the maximum discount on own damage premium as offered by our insurer partners.
^Lowest Price Guaranteed is based on certifications shared by insurers with us. Policybazaar will facilitate price matching subject to the terms and conditions of select insurers.
##Claim Assurance Program: Pick-up and drop facility available in 1400+ select network garages. On-ground workshop team available in select workshops. Repair warranty on parts at the sole discretion of insurance companies. Dedicated Claims Manager. 24x7 Claim Assistance.
