Importance and Benefits of Comprehensive Car Insurance Policy

Having at least third-party (TP) car insurance is mandatory as per the Indian motor laws in order to drive legally on the road. However, this policy is not enough to cover your car from any damage. For instance, if your car catches fire, a TP policy would not suffice. Thus, it is recommended to opt for a comprehensive car insurance plan. Here is how having comprehensive car insurance can be beneficial for you and your car.

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The Need for Comprehensive Car Insurance

A comprehensive car insurance policy comprises both the third party insurance and own damage (OD) insurance. In simple words, a comprehensive motor policy protects the car owner from both third party liabilities as well as damages to your own car that may arise from road accidents, natural/man-made calamities, fire, theft, etc.So, whether it's a little scratch caused due to an unexpected accident or a vehicle theft situation, getting the right car insurance policy, such as a comprehensive car insurance plan, is essential for complete financial protection.

Benefits of Comprehensive Car Insurance

Comprehensive car insurance offers a wider coverage than third party insurance to ensure your safety. Have a look at its benefits:

1. Mandatory Third-Party Liability Coverage

   A comprehensive car insurance policy helps you meet the legal requirement of the Indian motor laws by providing you with the essential coverage for any damages or injuries to a third party or their property involving your insured vehicle.

2. Own Damage Coverage

   Besides third party liabilities, this policy also covers damages or losses to your own car that may arise from accidents, fire/theft, vandalism, or man-made calamities.

3. Peace of Mind on Roads

   Having this policy helps you avoid stress and financial burden from unexpected events on the road like small dents, major accidents, or a car breakdown.

4. Enhanced Protection with Add-ons

   You can extend your comprehensive car insurance coverage with the help of popular add-on covers like:

   • Zero Depreciation: Ensures you receive the full claim amount without factoring in your vehicle depreciation costs.
   • 24x7 Roadside Assistance: Helps during car breakdowns, towing, flat tires, empty fuel, or minor repairs, among others.
   • Engine Protection: Covers repair costs for damages to your car's engine due to water ingress or oil leakage.
   • Return to Invoice: Helps recover the original purchase price of your car in case of total loss or theft.

5. NCB Benefits

   A comprehensive policy also rewards you for safe driving with NCB (No Claim Bonus), which is a discount on your car insurance renewal premium if you do not raise any claim during the policy term.

Steps to Buy Comprehensive Car Insurance Online

Here is the simple procedure to buy a comprehensive car insurance online in just a few minutes:

• Go to Policybazaar.com and from the homepage, select 'Car Insurance.'
• Enter your car's registration number or select 'Brand New Car' in case of a new car.
• Now, after providing details like car make & model, variant, fuel type, RTO, etc., provide your contact information.
• From the list of multiple car insurance quotes by different insurers, select a plan that best matches your requirements.
• Choose any add-on covers if required.
• Make the premium payment via cards, net banking, or UPI.
• Upon successful payment, you will receive your comprehensive car insurance policy on your registered email ID.

To sum it up,

Comprehensive motor insurance, which includes varied coverage, is a better option than the state-mandated third-party liability policy. Additionally, the peace of mind provided by this sort of insurance policy is absolutely invaluable, since it provides the highest layer of safety for your vehicle and keeps you financially protected in case of a mishap