Everything You Need To Know About Car Insurance In India

Imagine if you buy a new car and are excited about spinning it on the roads when a puppy suddenly comes in front! While you manage to save the puppy, you are left with a dented car. Your car insurance will act as a savior in such unforeseen situations. How? Here’s all you need to know about it in a nutshell! A four wheeler insurance policy acts as a contract between you and your insurance company wherein the insurance company will cover you against financial losses occurring because of damages to the car. It is only applicable in situations where the damage has been caused either due to an accident, a natural calamity or any liability that could result because of an accident or theft. Car insurance policies can be of two types:

1. Third Party/ Liability Only Insurance Policy

A third party car insurance cover is mandatory in India and you must ensure that you have it. This policy covers you financially in case you accidently damage others or their property in an accident.

2. Comprehensive Insurance Policy

A comprehensive insurance policy covers for you and your vehicle, along with the third party. It is advisable to go for a comprehensive motor insurance cover and save yourself from a financial dent in case of damage. Along with these basic covers, there are some additional benefits that are given to the customer by the motor insurance company. These are known as add on covers. Some add on covers include: 24x7 Spot Assistance Imagine driving through a lonely road when you suddenly realize the tyre of your car is punctured. Your 24x7 spot assistance insurance cover can help you in such a situation. If you opt for this cover, all you need to do is just need to call on the toll free numbers and the motor insurance company reaches out to you and helps you out of such emergencies. This add on covers facilities like towing, fuel assistance, accommodation and taxi benefits, and can prove to be quite a blessing. Engine Protector Driving on a busy road when you suddenly find out that the engine of your car has got damaged due to lubricating oil leakage? Worry not! The engine protector cover will insure you against such incidents saving you from financial losses. Lock and Key Replacement Cover Imagine losing your keys accidentally while you are shopping. You will not have to worry about such incidents as this add-on cover will indemnify the cost of replacement keys. This cover also pays for the new lock in case it is damaged. So now that you understand the importance of car insurance, do take a look at motor insurance online day!