As per Motor Vehicle Act, a Third Party insurance is compulsory so you must purchase one whether you get a new or a used vehicle. You may purchase a comprehensive cover as well.
The former type of insurance protects you against financial and legal liabilities towards an authorized. Alternatively, A comprehensive insurance policy provides cover to your vehicle against damage due to accident, fire, theft, cyclone, flood, etc. Along with this cover, it covers any alternative party liability. Listed below are five major car insurance benefits.
1. Damage or loss to the insured vehicle
In case your vehicle is damaged due to a major accident, fire, or self-ignition, you are protected. Furthermore, if the car suffers losses due to burglary or theft, strikes, riots, or terrorism, your insurance coverage covers these. Another good thing about car insurance is that it covers loss or damage while in transit by rail, inland waterways, air, road, or lift.
2. Personal accident cover
Another good thing about car insurance is that it offers personal accident cover for a pre-determined amount. Personal Accident cover provides protection against long-term total disability, Death due to an accident. Furthermore, this cover can be studied for other passengers on an unnamed basis (maximum according to the vehicle’s seating capacity) for a pre-determined amount under the automobile insurance policy.
3. Large network of garages
HDFC ERGO Car Insurance maintains a big network of garages across the country. This ensures you receive cashless services in most of these locations, in case the necessity arises. This feature will make it convenient to avail of repair services in case there is any harm to your vehicle.
4. Third-party liabilities
If your car is involved in an accident that results in damage or loss to the property of any third parties, it is covered under auto insurance. Furthermore, if you face any legal liabilities regarding any bodily injury or death of your third party, your car insurance protects you against the same.
5. No claim bonus
One of the major features of having car insurance is the no-claim bonus (NCB). The customer is qualified to receive this benefit for every claim-free year. This can be available as a discount on the premium, making car insurance even more affordable.
Here are two factors you must consider while choosing car insurance from various insurers.
1. Quick and hassle-free process
When you choose to buy a car insurance policy, it’s important that you do not have to undergo a long and cumbersome procedure. The entire process must be simple, quick, and convenient. Furthermore, choosing an insurer that supplies the additional convenience of purchasing the policy online is recommended.
2. Customer support
A reliable and reputed insurance company hires trained and experienced personnel to help resolve all of your queries. Insurance companies also offer live chats to make sure your issues are resolved without any delays.
Having a car insurance policy gives you complete peace of mind. You are assured you will face no financial difficulties in case of any loss or harm to your vehicle or to third parties.