Know more about Car Insurance Consider this.

You buy a brand new car, take it out for a spin and some jerk comes and bumps you from behind. The damage done to the car will be secondary but you would first feel as if someone has shattered your dream. The next thoughts that cross your mind would be - Is the damage irreparable !ow much would it cost " Car Insurance is an arrangement between the Insurer and the #ehicle $wner wherein the insurer pro%ides co%erage against any financial loss happening because of damage to the car. This is applicable in situations where the damage has been caused either through an accident or because of any natural calamity or any liability that could result as a part of an accident or theft. " Car Insurance policy is usually of two types a& Third 'arty (iability co%er and b& Comprehensi%e Co%er policy Third Party Liability Policy: "s the name suggests, it co%ers you against any legal liability resulting from accident of your %ehicle. The co%erage includes death, injury or property damage to third party. This co%er does not include damage to the %ehicle. " Third 'arty (iability co%er is legally mandatory in India under the )otor #ehicles "ct.
Coverage in a Third Party Liability Policy General Exclusions

(iability is co%ered for an unlimited amount with respect to death or injury and damage to third party property for .amage to your personal property up to *s.+., lakhs under commercial and pri%ate car and up to *s. - lakh for two wheelers. (egal protection for death or injury claims from third (egal protection for damage to parties, including occupants of your %ehicle third party property 'ersonal accident benefits for you, your paid dri%er and (egal costs and expenses occupants of your %ehicle 'rotection of your legal liability towards your paid dri%er

Comprehensive Package Policy: Comprehensi%e co%er is designed to offer protection to you and your %ehicle. " typical comprehensi%e co%er comprises the following/ a& .amage to your %ehicle, i.e., any loss or damage caused to your %ehicle or its accessories due to natural and manmade calamities as defined in the scope of co%erage0 b& " third party legal liability co%er and lastly0 " personal accident co%er to dri%er 1owner& of the %ehicle for up to *s. 2 lakhs for a premium of *s. -33.
General Exclusions 5ear 4 tear, depreciation, mechanical or electrical breakdown

Coverage in a Comprehensive Policy "ccidents 4 external damage

.amage due to 6ire 4 explosion, 7torm and .ri%ing without %alid dri%ing license 6lood 8urglary 9 Theft .amage in Transit )alicious act including *iots 4 strikes ;atural calamities like <arth:uake .amaged caused conse:uential loss " %oluntary excess 1if opted& (oss due to %ehicle being dri%en by a person under the influence of alcohol or drugs at the time of the loss

"part from the abo%e mentioned two types of policies, in 23-3 a few insurers also added a host of additional rider benefits which allowed the customers to add a few extra protecti%e gears to their Car Insurance 'olicies. <ach of these riders has their own =7' and helps you get more out of your Car Insurance policy at a little extra cost. Depreciation Shield

In case of a partial loss to your car, the insurer promises to co%er the depreciation amount on the damaged parts which are allowed for replacement. 6or eg/ 6or a mid-si>ed car new car, a ?ero .epreciation co%er would cost a consumer *s. 2,,33 approximately. !x" Spot #ssistance .ri%ing through a crowded road and getting stranded due to a 6lat 8attery, 6lat Tyre or a )inor *epair can be a troublesome issue. 2@x+ spot assistance helps you resol%e all such :ueries and fuel assistance in some cases too. In addition to this you also get Towing 6acility, (egal "d%ice, )edical Co-ordination, "ccommodation 8enefits and Taxi 8enefits too in case of immobilisation of your car. It is also one of the cheapest riders a%ailable to a consumer for *s. AB, only. Engine Protector In case the engine of your car gets stalled due to either water ingression or leakage of lubricating oil resulting from an accident or as a result of damage to the gear box due to leakage of lubricating oil resulting from an accident the insurance companies still ensures that your claim is settled as per normal procedure. In case of standard policy, your claim would ha%e been rejected. $ehicle %eplacement #dvantage If your car gets stolen or is damaged to a bad accident or a natural calamity, this rider helps you replace your car with a new e:ui%alent or near e:ui%alent car of similar make, model, features, specifications and colour. #ccident Shield In case your car meets with an accident and you are not the sole indi%idual in that car the insurer will compensate you and the other occupants of your car in case of both death and9or permanent total disability arising out of an accident while tra%elling in your car. 7imilar to the toppings in a 'i>>a, these additional riders make the policies more beneficial for the owner. Though on the face of it, e%ery rider might look important and handy, a careful thought regarding the same will let you know what your actual re:uirements may be. Car Insurance protects you from being financially responsible for an accident, as correctly putting it, it is a %entilator support which your car li%es on.