Comprehensive Car Insurance
Comprehensive Car Insurance is a type of insurance for private cars that provides all-around protection to the vehicle from all kinds of risks, such as accidents, theft, third party liabilities, natural calamities, etc. It helps repair or replaces the car in the event of an unpredictable mishap that results in its loss or damage. With this insurance, a customer will receive financial aid from the motor insurance company to get their car repaired or replaced if they suffer a partial or total loss of the vehicle.
Comprehensive insurance coverage for a car includes both own damages as well as third party liabilities. Additionally, this type of insurance also offers personal accident cover to the owner/driver of the car in case they get injured in a car accident.
Coverage
A comprehensive insurance policy provides extensive coverage to a car from vivid adversities. Below is a list of covers available under comprehensive car insurance:
- Damages: If the car suffers loss or damages following an accident.
- Fire Damages: Any loss or damages resulting in the event of the car catching fire.
- Car Thefts: New car replacement if the car gets stolen.
- Damages Due to Natural Calamities: Coverage against a calamity striking the neighbourhood and damaging the car. Natural calamities include cyclones, floods, earthquakes, landslides, etc.
- Third-Party Loss: Coverage on any third party damages or losses caused by the car, including property damages, bodily injuries or death of a third party person.
- Damages Due to Man-made Hazards: In case the car suffers total or partial damage due to any man-made hazard. Man-made hazards include strikes, terrorist activities, riots, etc.
- Vandalism: Damages to the car caused by vandalism.
- In-transit Car Damages: If your car gets damaged while being transported via land, water or air.
- Personal Accidental Injuries or Death: Not only covers the car from any damages or losses but also provides coverage to its owner-driver if they get injured or die in an accident.
Customizing Add-Ons
Comprehensive insurance policies could be customized to increase the level of protection for the car with add-on covers. An add-on cover refers to additional or extra coverage for the vehicle by paying the additional premium price. Some of the most common add-ons cover that motor companies offer in India are as follow:
- Zero Depreciation Cover: This cover enables the customer to avoid paying for the depreciating value of their car at the time of claim settlements. It is available only for vehicles that are less than five years old.
- Tyre Protect Cover: This cover protects the tyres of the car from any loss or damages under all non-accidental situations and not just during an accident.
- Return to Invoice: This cover grants a declared value equal to the purchase price of the car. So in case of a total loss claim, the insured gets the car’s current market value. It is perfect for people who’ve just bought a new car.
- Breakdown Assistance Cover: With this cover, customers can access roadside or breakdown assistance from their motor insurer in situations like a flat tyre, empty fuel tank, loss of keys, etc.
- Consumable Cover: Using this cover, all the consumables used in the car, such as washers, nuts, coolants, belts, engine oil, etc., remain covered under the comprehensive car insurance policy.
- Engine & Gearbox Protection: With this cover, the cost of repairing or replacing the engine and gearbox of the car will be covered in all situations and not just in a car accident.
- Conveyance Benefit: It makes the customer eligible to receive a daily conveyance allowance from the insurer to commute by other means of transport while the car is in repair.
- Key Replacement Cover: This cover enables the customer to get replacement keys of the car in case of lost keys.
- No Claim Bonus Protection: It protects the No Claim Bonus or NCB under all circumstances and moves the customer to the next NCB slab even if they raise a claim during your policy term.
- Passenger Cover: Not only covers the insured, in case of an accident but also protects the passengers riding in their car.