The goal of purchasing a car insurance policy is to provide financial protection in the unfortunate event that your car, a third party, or property is damaged. When it comes to auto insurance, damage can be done to both your car and other people’s vehicles. The third parties who might be harmed by your car are covered by a third-party car insurance policy. According to The Motor Vehicles Act of 1988, it is a requirement, and it is illegal to drive without one. However, in terms of the aforementioned insurance objective, it is not the best coverage.
- Your vehicle is uninsured
Your car is not covered by third-party liability insurance for damage. In this situation, paying an insurance premium merely to comply with the law leaves your car uninsured for its own damage. This means, for instance, that your insurance coverage won’t cover the cost of fixing your damaged car if it skids and collides with a tree. Additionally, you won’t be protected if a natural disaster or man-made disaster causes your car to be stolen or damaged.
- Limited personal accident coverage
A Third-party Liability policy provides the owner/driver with Personal Accident coverage up to Rs. 2 lakhs. The terms and conditions outlined in the auto insurance policy apply to this. Such a policy might not be adequate given today’s hospitalisation and medical treatment costs. In the event that you sustain a personal injury while operating the vehicle, your medical costs may exceed the compensation sum by a significant margin.
- No room for add-ons
The extent of your 4-wheeler insurance protection is greatly influenced by add-ons. Although car insurance coverage is generally generic, you can customise it to some extent with the right Add-ons. For instance, you can choose a Passenger Cover to cover your fellow passengers or buy an Engine Protection Cover to increase the coverage of your insurance policy. However, an automobile insurance policy that only covers third-party liability can’t be used to purchase such add-ons.
What is the alternative?
The aforementioned facts make it quite evident that a third-party liability insurance cover is insufficient for your vehicle. The option is to purchase comprehensive 4-wheeler insurance. It includes the third-party liability insurance policy’s required component. After obtaining the policy, you can comply with the law in this manner.
Additionally, it protects your automobile from damage and theft, and you can choose add-ons. You may be able to get more protection in the event of personal injuries with a personal accident add-on. Popular add-ons like zero depreciation, roadside assistance, NCB protection, return to invoice, etc., are available for selection. *
The ideal car insurance plan
Choose a policy with enough coverage and a reasonable insurance price. Nowadays, buying car insurance renewal online is really simple. Visit the website of your selected auto insurer, select a policy, review the terms and conditions, submit your payment, and receive the policy in your email. To make an informed decision, make sure you carefully review the policy’s inclusions and exclusions. Keep a printout of the policy in your car, together with your car’s registration certificate and pollution under control certificate, and don’t forget to renew your auto insurance on time (PUC).
With the aforementioned information, it is obvious that third-party car insurance coverage is insufficient to protect your vehicle. It’s crucial to understand that a comprehensive auto insurance plan covers damage to both your own vehicle and other people’s property as well. Additionally, you can choose add-on covers to increase the scope of your standard comprehensive auto insurance policy’s coverage. Popular add-on covers like zero depreciation, no claim bonus protection, emergency aid coverage, and others are available for selection. *
* Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.