Think Of Your Car Insurance As A Contract Between Your Insurance Company And You?
Think of your car insurance as a contract between your insurance company and you, where you agree to pay an annual premium and the insurer agrees to pay for possible car repair expenses.Thus, having car insurance protects you against major finanical loss in the case of an accident (and saves you from a lot of stress!).
Comprehensive Car Insurance
Unlike third-party car insurance, comprehensive car insurance also covers you against damages caused to your car that aren’t a result of an actual collision with another vehicle.
Apart from liabilities to third parties, these instances also include: Theft Fire Vandalism Falling Objects Damage done to your car by animals or wildlife Natural disasters Civil disturbances Thus, having a comprehensive insurance cover is a matter of convenience!
All You Need To Know About Third Party Car Insurance
Unaware of the essentials linked to Third Party Motor Liability Insurance? Here is a quick dekho of what is covered, and not covered and most relevantly how to claim on the third party liability insurance. Third Party Liability Insurance protects you against any legal liability arising due to the involvement of your own car in an accident that led to death, injury or sizeable property damage to a third party. Hence, it offers peace of mind shielding you against any unforeseen incidents involving your own car.
Synopsis Of Third Party Liability Insurance
Usually, third party liability insurance is an element of the main car insurance policy. As it may be noted, several insurers might also offer this as a separate cover. This proves in the favour of money conscious consumers as the cost of a standalone third party cover is always lesser than the comprehensive cover. As it is mandatory in India, third party insurance is a crucial requirement when car owners hunt for car insurance covers. With the advancement in the e-commerce sector, buying or renewing the third party insurance cover online is the newest update in the insurance domain. As per the Indian Motor Vehicles Act(1988), third party liability cover is a constitutional obligation. As it suggests, the primary beneficiary of this cover is not the insurance company or the policy holder, but an engaged third party. In an unfortunate event of permanent disability or death of the third party triggered by your own car, this policy will cover for any financial obligation sustained by you. The compensation paid to the victim is decided on the various factors including the earning capacity of the latter.
Highlights And Benefits
A classic third party car insurance cover ensures you are protected against any financial losses in case your car is involved in an accident that effect in – 1. Death or bodily injury to a third party. 2. Accidental death of the Owner of Vehicle or Driver. 3. Damage to third party property. 4. Permanent Total Disability suffered by vehicle’s Owner or Driver. In addition to the above, other valuable benefits that form the part of this policy are far beyond the financial respite.
Easy on the pocket :The most important factor being the cost involved compared to the benefits reaped. Either it’s a standalone cover or the part of the core policy, the third party insurance is fairly cheap to run compared to its intended usage. Peace of Mind: Dealing with a stressful event like an accident involving third party can only add up to the agony if it demands shelling out huge sum of money. What can be more peaceful that having a committed policy to provide you that much needed financial respite in situations like this! Hassle-Free Transaction: As mentioned earlier, with a choice of buying/renewing the third party insurance online, the entire experience is noticeably simpler, faster and hassle free. In most cases, the policy copy lands in your email inbox within few minutes of successful payment.
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Mera Insurance Wala
Mera Insurance Wala (MIW) is one of the pioneer Insurance Company offering wide range of insurance products according to the specific needs of the clients. Established in the year 2012.Be it advising on the right insurance product or identifying & managing the risks involved, We makes sure the investments are done wisely as per the interests..know more