Having a 3rd party insurance is mandatory for every car plying on Indian roads. However, while 3rd party insurance has its own benefits, many owners prefer comprehensive insurance. Check out this post to know how comprehensive auto insurance can benefit you.
Purchasing a four-wheeler can be a dream come true for many people. But once you have made the purchase, the next important step is to buy an auto insurance. As per the Motor Vehicles Act of 1988, it is mandatory for every four-wheeler to have a 3rd party insurance always.
While a 3rd party insurance used to be a go-to option for most car owners, an increasing number of people are now opting for comprehensive auto insurance. The comprehensive policies offer a host of additional benefits, allowing car owners to experience enhanced protection. If you are looking for reasons as to why a comprehensive policy can be a great option, here are 5 of the most important ones:
- Protects Both the Involved Parties: With a 3rd party auto insurance, only the damages and injuries to the 3rd party are covered. However, if you get injured or your vehicle gets damaged in the accident, you are required to manage those expenses on your own. But with a comprehensive policy, the damages and injuries of both the involved parties are covered.
- Covers 3rd Party Insurance Too: When you purchase comprehensive insurance, there is no need for you to buy another 3rd party insurance to meet the guidelines of the Motor Vehicles Act. Comprehensive insurance also covers 3rd party insurance and offers all the basic benefits of this insurance.
- Wide-Range of Add-ons: Insurance providers now also offer many different types of add-ons or riders to increase the scope of protection further. Some of the most popular add-ons are zero depreciation cover, NCB retention cover, passenger cover, and 24×7 roadside assistance. While such add-ons slightly increase the insurance premium, they do offer added protection and benefits. However, these add-ons are only available with comprehensive auto insurance and not with a 3rd party policy.
- Protection Against Natural Calamities and Manmade Acts: Apart from road accidents, comprehensive insurance also covers you against damages caused due to natural calamities such as floods, heavy rainfall, earthquakes, landslides, and more. Similarly, it also protects your vehicle against anti-social acts like theft, and vandalism. Such additional benefits are generally not included with a standard 3rd party auto insurance.
- Enhanced Financial Protection: Road accidents may sometimes result in a lawsuit against the driver. With comprehensive car insurance, all the legal fees of such lawsuits are covered. You do not get this level of financial support with a 3rd party insurance. If you want to give your prized possession highest possible level of protection, comprehensive insurance from a reputed insurance provider is the best option.
Now that you’ve understood the reasons why people prefer comprehensive insurance, it is time that you start looking for one online. Use reputed insurance portals to get instant quotes from the top insurance providers. Some platforms allow you to easily compare the insurance and customise it just the way you want. This ensures that you get a comprehensive policy that perfectly suits your requirements.