What is Comprehensive Car Insurance?
A comprehensive car insurance policy is not a mandatory policy but is recommended by insurance experts due to its wide coverage. This insurance cover provides compensation for third-party damages along with own damages sustained by the insured car. These damages are caused due to unforeseen events such as road accidents, collisions, natural calamities, theft, etc.
Additionally, a comprehensive cover can also be enhanced by purchasing additional covers such as zero dep cover, engine assistance cover, NCB Protect cover, etc.
What Risks Are Covered Under Comprehensive Car Insurance?
There are certain unforeseen risks that comprehensive four-wheeler insurance covers under its purview. These include:
- Third-Party Risks: Any third-party damage such as third-party death, bodily injury or property damage of the third party are covered under the policy
- Natural Calamities: Any damage sustained by the insured four-wheeler due to natural calamities like thunderstorms, earthquakes, cyclones, hurricanes, etc are also covered.
- Manmade Risks: Manmade risks including damages caused to the insured vehicle due to strikes, riots, and terrorist acts, are covered.
- External Risks: Any external risk such as damages arising out of road accidents, windshield damages, or collisions are also included in policy coverage
- In-Transit Damages: If your four-wheeler sustains any damage while it is in transit via roadways, railways, airways or waterways, the insurer will cover such risks.
- Theft: Total or partial loss sustained by the insured car due to burglary, or housebreaking, is also covered.
- Personal Accident: Comprehensive motor insurance also covers the injury/death of the owner/driver of the car. In cases of death, the compensation can be up to Rs. 15 Lakh.
- Fire-Related Risks: Risks sustained by the insured vehicle due to fire, self-ignition or explosion are also included under a comprehensive cover.
What Risks are not covered Under Comprehensive Car Insurance?
Apart from knowing about the risks that comprehensive four-wheeler insurance covers, you must also be aware of the risks it does not cover. Below we have mentioned damages or losses that are not covered under this insurance:
- Drunk Driving: Driving under the influence of alcohol is not covered in the comprehensive insurance policy.
- Driving Without License: Damages caused to the insured car if the driver was driving without a valid driving license are also not covered.
- Outside Geographical Location: If the insured vehicle met with an unforeseen accident outside the specified geographical location, the damages sustained by it will not be covered.
- Other uses: Losses caused to the insured vehicle when it was being used for commercial purposes are not covered under comprehensive four-wheeler insurance.
- Wear and Tear: Claims cannot be raised for any regular wear and tear sustained by the insured vehicle.
- Depreciation: Depreciation borne by the insured car over the years is also not covered by the policy.
- Breakdown: Electrical or mechanical breakdown caused to the insured car is also excluded from policy coverage.
The above-mentioned risks are not covered by a comprehensive insurance plan. However, you can cover most of them by purchasing additional covers along with your comprehensive plan. Some of these add-ons include Zero Depreciation cover, Engine Breakdown Cover, NCB Protect Cover, Roadside Assistance, etc.
Though not compulsory by law, a comprehensive cover can be very beneficial in covering your car from many unforeseen damages. With this insurance cover, you can get dual coverage of third-party damages and own damages as well. However, before you buy comprehensive car insurance, make sure to compare car insurance online on Policybazaar.com and choose the best one for your four-wheeler.