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Posted by Royal Sundaram on 03 Oct 2013
Did you know that Indians purchased close to 19,00,000 cars in fiscal 2012? While the plush, new sedans did get our heads to turn, the automaker recording the highest sales was the good old Maruti Suzuki! Rising fuel prices do not seem to have made a dent to the bumper-to-bumper traffic during peak office hours. Don’t we just love to take out our vehicles and go for a spin or a weekend getaway?
It’s not only your car, but also your car insurance that can make you happy. Of course, you know that it is mandatory by law to have car insurance, but are you aware of the number of benefits you can get?
Getting the Best From Your Car Insurance
In the event of an unfortunate accident, you may have to cough up a fortune to get your car repaired in the absence of insurance. When you have car insurance, you can get the car repaired and bring it back to its original shape, without having to burn a deep hole in your pocket.
Certain car insurance policies not only cover you and your car, but also the occupants of your car. Not just that, your policy also covers liability to third parties. So, whether you have damaged your car, injured someone in your car or caused damage to another vehicle or injury to any third party on the road, your car insurance will take care of all this.
A car insurance does not stop with covering only the damages to your car. It also covers other eventualities like theft of your vehicle or its accessories, natural calamities (such as floods, landslides and earthquakes), or grave situations like terrorist attacks. For your greater convenience, you can opt for the cashless facility. It means that you needn’t settle a major part of your accidental repair bill with the repairer or garage and the Insurer will take care of that amount by dealing with the repairer directly under the ‘cashless facility’.
What more, you can enjoy a no-claim bonus during a policy year, if you did not make any claim on your car insurance in the previous policy year. You can transfer your no-claim bonus not only from one Insurer to another, but also from an existing car which you are planning to sell to a new car that you will buy. This is because the no-claim bonus feature is linked to the owner of the car, not the car.
Apart from the above, there are a lot of add-on covers that are now available in the market. You can get a depreciation Waiver on plastic or metals parts. There could be a provision to get your windshield glass replaced without affecting your no-claim bonus.
While there are many benefits to car insurance, the most important thing is to drive safety and carefully. So, happy driving!
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