Leaving Your Car Idle For A While? Buy A Third Party, Fire And Theft Insurance Cover

The pandemic has changed the way we live and work. Most of the companies have adapted to the new normal- remote working. While work from home has its own set of difficulties and challenges, still the overall efficiency and productivity have improved for a lot of organizations apart from the benefit of cost savings.

The percentage of workers around the world that are permanently working from home is expected to double in 2021 as productivity has increased during the Coronavirus pandemic, according to a survey from U.S.-based Enterprise Technology Research (ETR). Another survey by Gartner revealed that 74% of companies plan to permanently shift to more remote work post Covid-19.

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Since many of us who are salaried and are still continuing to work from home, or have returned to our home towns, usage of cars on a daily basis has significantly reduced. In such a scenario, it doesn’t make sense to invest in expensive comprehensive insurance policies to protect your car from accidental damages when you take it on the road.

In India, it is mandatory to have a third-party cover according to the Motor Vehicles Act. However, having an own damage policy is our own choice. So, rather than buying a comprehensive cover which is expensive, you can just get a mandatory third-party policy as you need not worry about accidental damages.

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However, keeping the car at home for long may expose it to other threats such as theft or fire accidents. Car thefts are on the rise in India and at least 15 cases have come up in the last month in Delhi. Similarly, incidents of damage to cars due to fire is also very common especially when cars are parked outside on the road.

Therefore, Policybazaar has made available Third-Party + Fire + Theft insurance policy on its platform which is a combination of third-party cover and also covers losses incurred when your car is unfortunately stolen or damaged due to an accidental fire. Insurers such as Future Generali, Digit, and United India Insurance are offering these plans. Moreover, you can save a considerable amount when buying these plans as compared to buying comprehensive policies. These plans are 50% cheaper than comprehensive policies.  

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