Insurance is meant to minimise financial loss in the event of unfavourable circumstances. Both your car and other people’s cars may sustain damage when you have car insurance. A third-party liability car insurance online policy covers the third parties that your vehicle may have an impact on. According to The Motor Vehicles Act of 1988, third-party insurance is required, and driving without a third-party liability policy is illegal.
By reading, discover the top 3 reasons why third-party liability car insurance may not be enough.
The Appropriate Car Insurance Coverage
1. Your Vehicle Isn’t Protected
Your car’s damages are not covered by third party car insurance. In this case, you only pay an insurance premium to stay legal; your car is not covered for personal injury. This implies that your insurance will not cover the cost of fixing your damaged car, for instance, if it skids and collides with a tree. Furthermore, you won’t be protected if a natural or man-made disaster results in your car being stolen or damaged.
2 Limited Personal Accident Coverage
A third-party liability policy provides up to Rs. 2 lakhs in personal accident coverage to the owner/driver. The terms and conditions outlined in the car insurance policy apply to this. Such a cover might need to be more adequate given the costs associated with network hospital stays and medical care nowadays. If you are injured while operating the vehicle, your medical expenses may be substantially more significant than the settlement you are awarded. *
3. No Scope For Add-Ons
An important factor in extending the insurance coverage for your car is add-ons. Although a car insurance policy is generic, you can tailor it with the right add-ons. For instance, you can buy an Engine Protection Cover to increase the coverage of your insurance policy or a Passenger Cover to insure your fellow travellers. However, purchasing such Add-ons with a Third-party Liability car insurance policy alone is impossible.
What’s The Alternative?
The points above make it abundantly evident that your car needs more coverage than third-party liability insurance. The available option is a policy with comprehensive car insurance. It comprises the Third-party Liability insurance policy’s required component. In this manner, after acquiring the policy, you are compliant with the law.
It also covers theft and damage to your vehicle, and you can add extras. You can have better coverage in the event of a personal injury with a Personal Accident Add-on. Popular add-ons like 24/7 Spot Assistance, NCB Protect, Zero Depreciation, Return to Invoice, etc. are available for selection. The third-party car insurance price may rise up a bit when you select add-ons. Claims are subject to terms and conditions set forth under the motor insurance policy. *
The Appropriate Car Insurance Coverage
Select an insurance plan with a reasonable insurance premium and sufficient coverage. Nowadays, buying car insurance online is incredibly simple. Go to the website of your preferred car insurance provider, select your plan, read the terms and conditions, send in the payment, and get the policy delivered to your email. Remember to renew your car insurance on time. You can use a car insurance calculator to calculate the costs of insurance. Claims are subject to terms and conditions set forth under the motor insurance policy.
* Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.