In India, currently owning car insurance is a legal requirement once you get your driving license. It is a property of much value, and you cannot afford to show irresponsibility with it. Having insurance makes it easier to cope with the tiniest of repairs because let truth be told, the cost of repair is not that trivial as appears to be. At times, the damage could mount to medical expenses as well, which makes car insurances look like a dire necessity. You can’t possibly meet both expenses from your pocket, can you?
It has been two years since the emphasis on car insurances has been increased. But before you make a purchase, you have to think hard before you run into a totally irrelevant insurance for your car. It calls for a basic idea on your budget, your car, and your requirements.
Right now, a hefty number of general insurance companies offer covers for your car. But all of them function on a basic format, regardless of their reputation and uniqueness. Check out the types into which the car insurance policies can be broadly classified.
A pedestrian, a building at the block, some other person’s car, bike, or any vehicle whatsoever comes under third party liability.
This is for repairing your car if it suffers damage due to collision with any inanimate object.
Why would you, the victim, pay for a damage done to your car by someone who was uninsured? This cover will ensure that uninsured person’s faults. But this is a bit ambiguous one given you are in a way compensating for someone who hasn’t any money to do the needful. You had better read the details of it well before signing the lines.
This insurance will help you deal with your medical bills if you have suffered an accident while driving your car. The name ‘personal’ suggests the owner concerned, which is you.
Be it the car driver or the passenger, this is a special insurance, which you can avail leaving little worries for yourself. Whoever might be injured in the accident, depending on the count of heads you gave applying for the insurance, all of them will be compensated.
Mother Nature is unpredictable. A sunny morning might turn bleak with a heavy storm leading to your car being blown away. That is one big loss. Allow the insurance provider to compensate that until you can buy another or maybe no more.
This encompasses all the sections of the above-mentioned insurances. With a considerable premium, you can cover your car against all odds and takes a lot of load off your shoulders, this one. You will drive more relaxed than ever.
All branded car insurance under renowned companies like Bajaj Allianz, HDFC Ergo, and TATA AIG, etc. follow this type.