Secure Your Car This Diwali With Insurance

Posted on: Oct 19, 2022 | | Written by:

Secure Your Car This Diwali With Insurance

Published on October 14, 2022. EST READ TIME: 3 minutes

Secure Your Car With Insurance This Diwali

Diwali is without any doubt one of the most anticipated festivals of the season. The celebrations include a lot of lights, sweets, crackers, and spending time with friends and family. A lot of us pray for our favourite deities during the festival as well. Thus, it is an ideal time to get new car insurance during Diwali. The policy will ensure that your vehicle and your finances are well taken care of. Here is everything that you need to know about getting new car insurance during this festive season.

The importance of Car Insurance

There are quite a few reasons to opt for an insurance policy for your car. To start things with, the law makes it mandatory for all car owners to have insurance on them always. If you do not buy a car insurance policy and are caught driving without one, be ready to pay hefty fines.

In the event of an accident, the policy will pay for all third party injuries and damages. Thereby ensuring that you do not pay anything from your pockets. The policy will also protect your vehicle in the event of any damages or repairs needed. The plan will also cover any legal expenses if there are any.

Here’s Why A Car Insurance Plan Is A Must For You Before Diwali

Here are some of the prominent reasons why you must consider buying or renewing your policy before this Diwali.

1. Third Party Injuries/Damages

A or third party car insurance offers protection for expenses that arise due to damages or injuries to third party individuals or properties. If a policyholder meets with an accident that involves pedestrians or other vehicles or even properties, the policy has their back. The policy will pay for the repair bills or even hospital bills, which were caused by the accident. If you do not have insurance, you will end up paying all these expenses from your pocket. Which can easily vaporise your savings. Having a valid policy can save you from such situations.

2. Legal Assistance

Accidents at times can have legal consequences. If someone files a case against the driver of the car after an accident, it can take a while to get completely over with it. Knowing the legal system can take a few months or even years. This would generally involve a lot of legal fees and hiring a lawyer as well. Your insurance provider will take care of all these expenses.

3. Mandated By The Law

The Motor Vehicles Act of 1988 makes it mandatory for all vehicle owners to have insurance to legally drive their cars. And if you are caught driving without insurance or with expired insurance, some hefty fines are waiting for you. If you are caught driving without insurance multiple times, your licence might even get cancelled or suspended.

4. Protect Your Car

A comprehensive insurance plan offers the benefits of a third party coverage plan and offers coverage for own damage. The own damages can include damages due to natural calamities such as earthquakes, cyclones, typhoons, etc. or even man-made calamities such as terrorism, strikes, theft, vandalism, etc. Your insurance provider will cover such damages.

5. Personal Accident Cover

New car insurance policies or renewal plans usually contain a personal accident cover. Some plans contain this as a built-in feature, while others might require you to pay an additional premium for it. If a policyholder loses his/her life during an accident, the policy will compensate the family members. The financial assistance will ensure that the loved ones of the policyholder are taken care of.

Essential Add-ons For Your Car Insurance

Though they are not mandatory, add-ons can vastly enhance the coverage of your policy. By paying a small premium, you can plugin additional features with your insurance plan. Following are some of the most essential add-ons that you must consider for your new car insurance.

1. Zero Depreciation

A zero-dep add-on is one of the most sought-after add-ons for a car insurance policy. During your claims for any repair on the car, insurance providers usually consider the depreciated cost of parts and spares. Essentially leaving you to pay for the difference. With a zero dep cover, your insurance provider will take care of all the expenses.

2. NCB Cover

NCB or No Claim Bonus is rewarded to policyholders if you do not make any claims during a policy year. Since you can retain the bonus for as long as 5 consecutive years, it can make things a bit difficult if you want to make any claims. This is where the NCB cover comes into the picture. It allows you to make claims and not lose your NCB bonus.

3. Engine Protection Cover

The add-on will come in handy if your engine needs any replacement or repairs. If there are any expenses related to pistons or connecting rods, the policy will cover those as well.

4. Return To Invoice

The name might give away a bit. If you were to claim your insurance policy, this add-on will ensure that you receive the invoice amount for your car. The add-on can be extremely helpful in the event of total loss or if your car is beyond repair. Your insurance provider will not deduct the depreciation rate and pay the invoice amount.

5. Roadside Assistance

If your car breaks down in the middle of the road, you can claim roadside assistance cover. It is helpful for both travel in the city and outside. You can claim the policy for engine breakdowns, mechanical failure, running out of fuel, duplicate keys and more.

6. Cover For Passengers

If you are someone who carries around a lot of passengers, this add-on might be worth adding to your base policy. In the unfortunate event of an accident, the policy will compensate for accidental injuries to the passengers of the car.

Car Safety Tips To Avoid Damages

Though there are a lot of unknowns, there are a few safety measures that you can take to avoid damages or minimize their possibilities. Here are some effective ways to avoid damage to your car.

1. Parking In A Garage

As you park your car in a garage, it reduces the chances of it meeting with harsh weather conditions. It can also reduce the chances of theft and burglary.

2. Follow The Maintenance Schedule

You must follow the maintenance schedule of your car. This will help you avoid any sort of mechanical breakdowns. Since wear and tear are expected as the car ages, regular maintenance will help you avoid damages and identify issues well in advance.

3. Lock Your Car

Though it might seem banal, one must lock their car always. It can help you prevent a lot of potential hazards.

Conclusion

This Diwali buy or Car insurance policy to ensure that your vehicle is well covered. Depending on your needs, you can either opt for comprehensive car insurance or third party insurance. Irrespective of which policy you choose, ensure that you renew the plan on time to avoid unwanted complications.

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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