The Best Reasons Why You Should Opt for Comprehensive Car Insurance

Posted on: Jul 29, 2022 | | Written by:

The Best Reasons Why You Should Opt for Comprehensive Car Insurance

Publication date: July 27, 2022. EST READ TIME: 3 MIN

As soon as you buy a motor vehicle in India, you are legally obligated to buy an insurance cover for it as well. This is a rule laid out by the Indian authorities. You need to buy a third party car insurance policy compulsorily. However, getting a comprehensive plan is an option. Though the third-party covers are good, they fall short at times, making it necessary for you to have a comprehensive cover. Take a look at this article to learn more about the third-party and comprehensive plans, and then decide which cover you will go for.

Understanding a Third Party Car Insurance Plan

As its name suggests, a third-party car insurance plan only offers protection for third-party-related damages. These include damages to the property of a third party, damages to a car of third-party or bodily injuries (including death) of a third party. Apart, you also get a personal accident cover in a third-party plan.

A third-party plan is a basic and straightforward type of motor insurance. Such a plan is very inexpensive, and the covers are fixed. You cannot customize a third-party plan in any way. India's leading motor insurance companies offer third party car insurance plans.

Understanding a Comprehensive Plan

A comprehensive plan is a more complex type of motor insurance with many added layers of protection. You get all the third-party covers, and you also get coverage for your own car. You get personal insurance coverage. This apart, you also get the option of adding riders to your policy, which proves to be an added benefit.

A comprehensive plan is an optional cover. It is also more expensive than a third party car insurance plan, but the scope of coverage is much higher.

Who Needs Third-Party Insurance?

While a comprehensive plan is a very crucial requirement, you may want to opt for a basic third-party plan if:

1. You have an old car

A third-party plan suits you when you have an old vehicle. The value of the car and its parts are quite low, so even if you need to repair or replace them, the bill won't be too much. In such a scenario, a third-party plan may suffice.

2. If you wish to replace the car

If you are in the process of replacing your old vehicle, you can continue with a third-party plan. This will help you to take care of the legal obligations while you wait to get your new car.

3. If the car is sparingly taken out

If you have a car that you don't use very frequently or a car that you use to practice your driving skills on, you can rely on a third-party plan.

Reasons Why a Third-Party Plan is Not Enough

Here are some reasons that tell you why a third-party car insurance plan may not be enough:

1. Cover for own vehicle

The main reason why most people buy motor insurance is to keep their precious vehicles safe. Road accidents are common, and the car often gets badly damaged following a mishap. At such a time, having a comprehensive plan helps you can get the car repaired o matter how expensive the repairs are. This proves to be an invaluable benefit and helps keep the car as good as new.

2. Cover against theft and fire

Your car needs protection against fire and theft. Both fire as well as a robbery, can lead to catastrophic results. You may end up needing funds to replace your car. A comprehensive plan comes in handy in such a situation as you get compensated for the damage. The car insurance provider offers compensation, and you get to buy a new car of the same value with it.

3. Option to add riders

You get to add the much-needed riders to the comprehensive plans, something which you cannot do when you have a third party plan. Since riders are very important in car insurance, you need to buy a comprehensive car insurance plan. The best car insurance riders are the engine protection rider, the personal accident rider, the roadside assistance rider, etc. Buying a third-party plan may not be enough as you can't add the add-on covers to the policy and customize it as per your needs.

4. Helps in regular maintenance

Regular wear and tear are common in all vehicles. However, you cannot ignore these. You need to fix even a minor problem or replace a faulty part as soon as you discover it. Doing so will help you to keep the car safe and in good condition, thereby avoiding accidents and mishaps. When you have a comprehensive plan in place, you can address all car issues without having to worry about expenses.

5. Easily available

And last but not least, the comprehensive plans are easily available. You can buy the plan online in a matter of a few minutes. This gives you all the more reason to purchase and use the amazing comprehensive motor insurance plans for your precious car.

Keeping these points in mind, it can safely be said that a comprehensive plan is quite a must-have when you have a new and expensive car. In such a case, a third-party plan is just not enough.

Conclusion

In conclusion, it can safely be said that a third party car insurance plan, though well designed, doesn't always cater to the needs of a vehicle owner. Since a car is a prized possession, you want to keep it safe and secure at all times. In this context, getting a comprehensive plan becomes essential. So if you have a new and expensive car that you really are fond of, get a good comprehensive motor insurance plan from the best insurance provider and stay protected in a well-rounded manner.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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