What is comprehensive car insurance?
comprehensive car insurance is exhaustive car insurance that protects the insured from both their damages and third-party liability. It is also referred to as ‘other than collision’ or ‘own damage’ care insurance. It is because this policy delivers financial protection from non-collision damage. Comprehensive automobile insurance covers all unexpected events such as accidents, fires, thefts and natural disasters.
Benefits of comprehensive car insurance
- You get third-party liability coverage
Comprehensive car insurance includes compulsory parts related to auto insurance. It covers third-party injuries or third-party property damage caused by the insured vehicle.
- It gives coverage for the third-party accident
Lately, this segment of auto insurance policy has been revised to increase coverage from Rs 2 lakh to 15 lakh rupees. It means that if the insured’s car gets injured in an accident, the insurance company will pay up to 15 lakh rupees for medical expenses according to the terms of the insurance policy.
- It covers car accidents
Road accidents can be catastrophic. It can affect you mentally, physically and economically. In contrast to liability insurance, comprehensive insurance also covers damage to your car. If the vehicle gets damaged in an accident, the insurance firm will cover the cost of restoring the insured’s car.
- It covers damage due to fire
Comprehensive insurance covers car damage induced by fire. Fires such as spontaneous combustion, explosions, and lightning strikes get usually covered by this plan.
- It covers calamities
Cities today are much more prone to flooding than they used to be. Whether it is a natural calamity like a flood or a man-made disaster like a riot, comprehensive policies will compensate for car damage.
- This coverage also delivers add-ons
You also have the choice to purchase additional coverage along with the comprehensive plan. Please note that these covers cannot be bought individually or with a liability policy. Add-ons get designed to cover policy anomalies and add a bit of personalization to your vehicle insurance coverage.
- It covers car theft
The comprehensive plan sheathes car theft. If your car gets stolen, you will receive your vehicle insurance amount (IDV) after your claim has been resolved.
Comprehensive car insurance is the best protection you can present to your car. It is one step ahead of basic vehicle liability insurance. This insurance only supplies safety and security to speeding third parties or vehicles. Liability insurance does not cover your car against possible accidents. It delivers comprehensive insurance protection and more benefits.