Car Insurance: Banks and companies are providing attractive discounts and offers to customers during festivals. Most Indian customers are going to purchase new cars as it is a good muhurta to purchase new items. If you are also planning to purchase your dream car, then you should also check out affordable and comprehensive car insurance plans to ensure the safety and accident coverage of your car. Today we are providing you with an overview of Car Insurance that is very useful for vehicles including cars, motorbikes, etc. You can also purchase a good and affordable Car Insurance by following these important components.
It is mandatory for car owners to apply for new car insurance for their new or existing cars. Nowadays, most car companies are already providing third-party car insurance at the time of purchasing the car from the showroom. The Government of India has also legalised vehicle insurance and if you do not insure your car then it is a punishable offence. You may face a challan from traffic police if you do not have done your vehicle insurance. But apart from the government rules and laws, car insurance is also important for individuals to ensure the security of their cars if they fall into any natural accident including a car accident, natural disaster, stolen car or repairing a car, etc. So if you are planning to purchase a new Car then you should also plan for a good insurance provider for your car who will not only cover car accidents but can also provide you comprehensive car insurance. In detail, we have to provide you with the information on Car Insurance.
Transfer your existing car insurance to a new car
If you already have a car and you have also purchased any type of car insurance for your existing car and want to purchase a new car after selling the existing one, then you can transfer your existing car insurance policy to a new car. There is a feature in car insurance that you can transfer your no-claim bonus- NCB for your new car. If you claim your NCB for new car insurance then you will get discounts while submitting the premium for the car insurance.
Third-party car insurance
Insurance is a must while purchasing a new car so most car owners apply for third-party car insurance as it is mandatory in Law. But you should remember that these insurance are only scheme-based insurance where you will not get proper coverage for accidents including road accidents, natural disasters, maintenance of the engine and another part of the car, etc. So if you want to claim the maximum amount from the insurance provider during any emergency or accident, then you should apply for comprehensive car insurance where you have to add on maximum covers with your existing insurance plan.
Add on Insurance for the car
Car insurance add-ons are optional coverages that you can purchase to supplement your comprehensive car insurance policy. These add-ons provide additional protection for specific situations or risks, enhancing the overall coverage of your policy. Here’s a comprehensive overview of some of the most common and beneficial car insurance add-ons:
- Zero Depreciation Cover: This add-on eliminates the depreciation deduction applied to the value of car parts when calculating a claim settlement. This means you receive the full cost of replacing damaged parts, according to the age of your car.
- Consumables Cover: This add-on covers the replacement costs of consumables such as engine oil, coolant, brake fluid, and wiper blades, which are typically excluded from standard car insurance policies.
- Roadside Assistance Cover: This add-on provides assistance in case of car breakdowns or emergencies, including flat tire repair, fuel delivery, towing services, and roadside repairs.
- Engine Protection Cover: This add-on covers damage to your car’s engine caused by mechanical failures, electrical breakdowns, or oil leaks, ensuring comprehensive protection for your vehicle’s heart.
- Key Loss Add-on Cover: provide you with the cost of replacing lost or stolen car keys, eliminating the financial burden associated with key replacements.
- Passenger Assistance Add-on Cover: Will provide medical and other assistance to passengers in case of accidents, ensuring their well-being and offering peace of mind.
- Tyre Damage Add-on Cover: This will cover the cost of repairing or replacing damaged tires, protecting you from unexpected expenses related to tire damage.
- No Claim Bonus Protection Cover: This add-on safeguards your No Claim Bonus (NCB) discount even if you file a claim during the policy period, preventing a decrease in your premium due to a single claim.
- Owner Driver PA Cover: This add-on provides personal accident cover for the owner-driver of the insured vehicle, protecting them from financial hardship in case of accidents.