Partial & Full Car Insurance Coverage

If you own a car, buying its insurance would be on your priority list. But with so many options available in the market having varied features, getting a suitable policy can be confusing. Apart from the premium quote, numerous factors have to be considered to secure your car from any unforeseen mishaps. Hence, it is important to know the various types of car insurance coverage that are available. So, let’s go through the types of policies that you can avail of when you buy car insurance online.

Different Types of Car Insurance Coverage Available in India

You will find these types of car insurance that offer financial aid during an accident.

Third-Party Car Insurance Coverage

Such a plan covers any loss or damage affecting a third-party property or causing bodily injuries or even death. It is the minimum level of coverage that is mandatory to drive legally in India. In the event of an accident, your insurance provider will offer the rightful compensation to the victim, taking away any financial burden from you. But, third-party car insurance does not give any security to you apart from coverage for legal liabilities due to a third person. Thus, damage to your vehicle due to calamities, fire, explosion, etc. will not be covered by third-party insurance.

Standalone Own-damage Coverage

A standalone comprehensive cover provides more holistic coverage by securing you against unforeseen conditions including man-made events and natural calamities. It offers you coverage against damages to your vehicle, fire, theft, explosion, burglary, and more. Thus, your vehicle is secured from all kinds of mishaps. However, this kind of policy only offers coverage to your vehicle and does not offer coverage for third-party liabilities.

What is full coverage car insurance in India?

Full coverage car insurance in India is a type of car insurance that provides financial protection against damage to your vehicle, as well as liability coverage for injuries or property damage that might be inflicted on a third party while you drive your car. This type of insurance is also known as "all-risk" insurance or "comprehensive" insurance. Full coverage car insurance typically includes the following types of coverage: collision coverage, comprehensive coverage, liability coverage, and personal injury protection (PIP). *

• Collision coverage

This type of coverage will pay for repairs to your vehicle if you are involved in an accident, regardless of who is at fault. This means that even if the accident was your fault, your insurance company will pay for the repairs to your vehicle. *

• Comprehensive coverage

This type of coverage will pay for repairs to your vehicle if it is damaged by events such as theft, fire, natural disasters, or vandalism. This means that even if your vehicle is stolen, or damaged due to a natural disaster, your insurance company will pay for the repairs. *

• Liability coverage

This type of coverage will pay for injuries or property damage that you may cause to others while operating your vehicle. This means that if you are involved in an accident and it is determined that you were at fault, your insurance company will pay for the injuries or property damage caused to the other party. *

• Personal injury protection (PIP)

This type of coverage will pay for medical expenses and lost wages if you or your passengers are injured in an accident. *

How much does full coverage car insurance cost in India?

The cost of full coverage car insurance in India can vary depending on a number of factors, such as the make and model of your vehicle, your driving history, and the location where you live. On average, full coverage car insurance in India can cost around a few thousand rupees per year. The cost of your insurance premium will also be affected by the level of coverage you choose, with higher levels of coverage, generally, resulting in higher premiums. Factors that can affect the cost of your insurance premium include your driving history, the make and model of your vehicle, the registration location, and the level of coverage you opt for. *

What makes full coverage in India different?

In India, full insurance coverage covers you against damage to your vehicle caused by events such as accidents, theft, fire, and natural disasters. Full coverage insurance includes standalone own-damage coverage as well as third-party liability coverage. So, full coverage is a broader term and includes all the coverage that standalone own-damage insurance provides, as well as third-party liability coverage. Third-party liability coverage will pay for injuries or property damage that you may cause to others while operating your vehicle, while the standalone coverage will only pay for damage to your vehicle. *

Additional benefits of car insurance coverage

There are additional benefits of car insurance you can get from an insurance provider:

• Collision Cover

This cover only secures your vehicle in the event of an accident and reimburses the repair expenses incurred by you. But the condition to claim is that you can avail of the benefits only if the damage is caused due to an accident.

• Uninsured Motorist Protection Cover

You may come across such situations where you collide with another car, but the driver at fault doesn’t own an insurance plan to compensate for the damage. The ideal situation would be where the at-fault driver’s insurance provider covers the damages your vehicle has incurred. If the other person has no such policy, you will have to pay for the loss from your pocket. The uninsured motorist protection cover offers compensation for the repair of your vehicle, and you don’t have to bear the financial burden of it.

Add-on Covers for Car Insurance Policy

Add-ons extend your comprehensive/full coverage car insurance policy’s scope as per your coverage requirements. Here are some common add-on covers:

• Zero Depreciation

Depreciation is a process where an asset loses its market value due to regular wear and tear. The same happens to your vehicle. It experiences depreciation and lowers market value. With zero depreciation cover, your insurer will not consider the depreciation of your vehicle during claim settlement. *

• Consumables Add-on

Consumables such as nuts, bolts, engine oil, brake oil, etc. are not covered by the insurer in your basic coverage. In case you want to replace them, you would have to pay for the expenses. With this add-on, you wouldn’t have to worry about the replacement cost as your insurer shall cover it. *

• Roadside Assistance

In case your vehicle breakdowns in the middle of the road, you can avail of many services under roadside assistance cover. From fuel delivery to jumpstarting your engine, you are secured during an unfortunate situation. * *Standard T&C Apply  You can now get the most suitable car insurance coverage and be carefree about the financial aspect of an accident.   Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.