When you buy a car, it becomes one of your prized possessions,and you would want to make sure to also buy an insurance policy for the same. There are chances that you might not know about several things the insurance policy covers that are important. Sometimes, you might tend to miss out on the significant benefits that areincluded in the policy.
Listed below are certain aspects in a car insurance policy that you might have missed:
- Covers more than just damage or losses
People believe that car insurance only covers damages or losses caused due to accidents. But, it covers beyond just accident cover, i.e., damages/losses that weren’t in your control as well. Natural calamities such as floods, earthquakes, lightning, landslides, etc., along with man-made disasters such as theft, riots, burglary, damage at the time of transit, terrorist acts, etc. are also included.
- Online Renewal
Any process that involves documentation is lengthy, cumbersome as well as time-consuming. However, you don’t have to go through this hassle anymore, as it has become possible to renew your car insurance online. This also keeps you away from filling complicated forms. Also, the process of car insurance renewalonline is much simpler, quicker as well as cheaper.
- Concession on Third-Party Premium
Third-party premium is basically a comprehensive cover that compensates for the claims that are made towards the damages caused to the third-party that might have occurred to property or person, i.e. injury/death in case there is an accident. In a situation like this, your car insurance policy will pay for the losses/ damages caused to the third-party.
- Insurance for Car Accessories
If you take up a basic car insurance cover, it will only cover the car, not the accessories that are installed in the vehicle. However, you can insure your car accessories simply by selecting separate add-ons. This might push up the premium to some extent based on what you exactly take cover for. It will be very cost-effective than purchasing new accessories if they are damaged/lost because of an accident.
- 24/7 Spot Assistance
This feature comes in handy if your car breaks down in the middle of nowhere. This add-on also includes cover for significant facilities such as car towing, taxi arrangement, fuel/ legal assistance, etc.
- Zero Depreciation Cover
Depreciation is basically the rate at which the values of car parts depreciates as the vehicle gets old. During a claim, the insurance companies apply the depreciation rate to compute the amount payable for the damaged part. If you take the zero depreciation add-on cover, you can get comprehensive coverage without depreciation being factored in.
- Engine protector cover
If you opt for the engine protector cover, then the insurer will bear all the expenses for the repairs if your car ever gets stalled because of any reason such as oil leakage, damage of gearbox etc.
- Accident Shield
If you select this particular cover, you will gain compensation if there is a total disability or death arising because of an accident.
You can also calculate the premium on your preferred insurance online as per your needs, budget, etc. with the help of car insurance premium calculator.