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Four Reasons Why You Should Buy A Comprehensive Car Insurance Policy

14 March, 2017


Buying a car is a dream come true for many. You work hard for years and save a substantial amount of your salary so that you can have the keys to that four wheeler you always fancied.

Once you have made the purchase, a prudent task is to safeguard your car from any harm. The best way to do is to buy a car insurance. When you go and buy car insurance, you will have two policy options.

 

  • Third Party Motor Insurance Policy: Mandatory by law, it covers any damage or injury caused by the insured to a third party individual or property.
  • Comprehensive Motor Insurance Policy: As the name suggests, this policy covers any accidental loss or damage to your car. Plus any damage or injury caused by the insured to a third party individual or property.

 

While you can only buy third party motor insurance policy, it’s prudent for you to buy the comprehensive motor insurance policy as well. Here are a few reasons why.

 

1.  You’re covered against weather calamities

With unpredictable weather becoming a common occurrence these days, it helps to have a comprehensive car insurance policy. Take the Mumbai monsoons for instance, a few hours of rainfall and the whole city’s flooded. The floods will surely cause damage to your car.

 

It’s at this time when the comprehensive insurance will come in handy, it covers your car against floods and storms and even other weather calamities such as earthquakes and landslides.

 

2.  It covers against man-made acts as well

Apart from unpredictable weather, a comprehensive car policy also covers your car against man-made harmful activities such as acts of burglary or theft, malicious acts, and terrorist activities. For such acts, the insurance covers your vehicle and you won’t need to suffer huge financial burden for the above mentioned events.

 

3.  It covers third party insurance

A comprehensive car insurance by default covers the damage done by the insured to third party. For instance, with Car Shield, Royal Sundaram’s comprehensive Car Insurance package policy, you get unlimited liability against third party injury claims or death and indemnity for third party property damage up to INR 7.5 lakh.

 

4.  Excellent Add-Ons and Additional Covers

One of the best benefits for comprehensive car insurance is the many add-ons and covers you can add. It may increase your premium amount by a bit but these enhance the cover your vehicle has. For instance, here are some which Royal Sundaram’s Car Shield provides:

  • Depreciation Waiver Cover
  • Personal Accident Cover For Paid Driver and Unnamed Passengers up to INR 2lakh per person
  • Windshield Glass Cover
  • Comprehensive Cover for Electrical, Electronic, Non-electrical Fittings in the car.
  • Loss of baggage cover

 

With such benefits, it’s prudent that you purchase a comprehensive insurance policy. If the cost is hindering you, a recent report by the Indian Express states that third party motor insurance will cost up to 50% more.

 

Now that you will have to shell out more money for third party insurance, why not put a bit more money and buy the comprehensive insurance as well?

 

You make sure you buy a policy which is sound and comes with a lot of benefits such as the Car Shield policy by Royal Sundaram.

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