The automobile industry is growing at a rapid rate. A car is one of the most evolved vehicles. Be it in terms of speed, technology, comfort, price range, models, features, exterior, interior, there is a car for everyone’s need. The car industry is glooming fast because people prefer car more over another mode of road transportation as it is not only comfortable and stylish but now, a car is also a winner in the game. If we take a close look then we will notice that daily some new technology is introduced or some new features are introduced into the vehicle for making it more venerable. But, all these features also result in increased cost of the car. Every part from a tiny bolt to the huge roof of car cost so much that even after a minor accident; one has to check on his budget twice thrice before taking the car to the garage. Repair and replacement of car part are so heavy on the pocket that we can even consider not using the car for a while instead of taking it to the garage due to such high repair cost. Car insurance is the solution for securing your car along with the hard earned money in your pocket. Nowadays, when buying a car insurance plan is become easy with so many different options, you can also easily renew car insurance policy on-line with less documentation.
Types of Car Insurance –
There are ‘n’ numbers of car insurance available in the market but, we can generalize them in two types –
- Third Party Liability cover – In India, it is mandatory to cover your vehicle under a Third party liability cover. The third party car insurance offers a cover against any legal liability that occurs during an accident to the third party due to the fault of the insured car driver. It also covers loss/damage that is caused to the third party property.
- Comprehensive Car insurance cover – The comprehensive car insurance cover is the umbrella for all type of expenses that occur to your car. It covers the insured vehicle against financial damage and third party damage as well. The best feature is that it offers cover against any man made disaster or natural calamities that cause damage to the insured vehicle. This is the most popular type of motor insurance coverage as it offers quiet relived coverage and end to end coverage as well.
Add-On covers –
At an extra premium amount, you can get a wide range of further coverage for you and your vehicle. There is various type of additional coverage offered by the insurance companies such as-
- No Claim Bonus – If you do not claim any benefit out of your insurance policy that on the renewal of your insurance policy, you will get a discount price on the renewal premium amount. This discount is named as – NO Claim Bonus (NCB). It increases every year if you do not claim your policy during the tenure.
- Personal accident cover – The personal accident rider is also an optional feature and it provides assistance and medical expense coverage to the policyholder due to damage, disability or personal insurance that is caused during an accident.
- Car accessories cover – Normally, various car accessories damage is not covered under a car insurance plan, with the car accessories rider, one can get benefit and cost-cutting during the fitting or replacement of a car accessory.
Exclusions –
There are various futures which are usually not covered under car insurance such as–
- Gradual wear and tear of the vehicle parts.
- Loss or damage caused to the vehicle while the driver was an influence of some in toxic drugs or alcohol not prescribed by any legal doctor.
- Loss or damage caused to the vehicle while the driver was not caring a valid driving license.
Hence, one should read the terms and conditions properly before buying any insurance plan. For choosing the best plan, you must take help of an online insurance web aggregator such as PolicyX.com. With the same, you can buy car insurance plan online instantly.
Seek alcohol treatment if you have received more than one DUI
