This insurance protects the car owner against the financial loss done due to accidents, damage/theft of the insured vehicle. In India, it is mandatory to buy a car insurance as it fulfills the legal liability of the vehicle owner arising due to loss or damage caused to third party/property.
Types Of Car Insurance
- 1) Third Party Insurance: This is a basic insurance that covers the bodily damage/injuries or any loss caused to third party by the insured vehicle.
- 2) Comprehensive Insurance: This insurance policy provides enhanced insurance coverage as it covers third party liability and owned damage to the insured vehicle.
Inclusion Of Car Insurance
- 1) Any damage caused to the car due to accident, fire, riots, natural calamities like flood, earthquake etc.
- 2) Loss or theft of insured vehicle
- 3) Third party liability
- 4) Personal accident cover provided to the driver
Exclusions Of Car Insurance
- 1) Loss due to ageing of the vehicle
- 2) Mechanical or electrical breakdown
- 3) Damage done by the driver without a legal driving license
- 4) Damage caused under the influence of alcohol, drugs or any other such substance
- 5) Damage or loss outside the boundary of India
How To Buy Car Insurance?
- 1) Online Mode: Checkout various insurance companies providing car insurance and pick the one which proves best in giving you maximum coverage, best features and minimum premium amount. This also helps you in paying the premium online.
- 2) Offline Mode: You can visit the preferred car insurance company and fill up the form at the branch after understanding all the terms and conditions.