Is your car insurance plan due for renewal anytime soon? If so, you might want to review the coverage you have. If you have a basic third party insurance plan, now might be the time to switch to a comprehensive policy. While a third party car insurance plan offers you the basic coverage you need to legally ply your vehicle, a comprehensive plan can do a whole lot more for you. Let’s take a look at the reasons why you might want to consider switching over to a comprehensive car insurance plan during car insurance renewal.
- You get protection for own damages and third party losses
The main reason why you should consider opting for comprehensive car insurance is that your own damages in an accident get covered as well. A comprehensive car insurance plan will cover you for third party losses and the damages incurred to your vehicle. This way, you get proper financial protection in case of an accident. With a third party car insurance plan, your own vehicle’s damages will not be compensated for by your insurer.
- You stay covered against natural disasters and manmade disasters too
One of the biggest advantages of comprehensive car insurance is that you get covered for losses you incur due to natural disasters and manmade calamities too. This means that you will receive coverage (within policy limits) for losses due to earthquakes, floods, theft, fire, and so on. As all these situations can cause severe – and sometimes complete – loss of your vehicle, comprehensive car insurance can prove to be a much-needed financial support in difficult times. Moreover, if your vehicle is stolen or gets completely damaged beyond repair in an accident, you get the IDV (insured declared value) paid to you. You can use this sum to, perhaps, even afford a new vehicle.
- You can enhance your plan with add-ons
You can also opt to increase the protection of your comprehensive car insurance plan with the help of add-ons or riders. Some of the most popular riders that you might want to consider opting for are zero depreciation cover, consumables cover, roadside assistance, and NCB protector. These riders each bring with them a unique aspect of coverage that can save you a lot of money during a claim. Riders in car insurance are not available with third party insurance; you can only opt in for them if you buy a comprehensive car insurance plan.
So, as we can see, comprehensive car insurance is truly a great choice for any vehicle owner. At an increase in your premium cost, you get far greater protection that your vehicle deserves. These days, you can easily compare comprehensive car insurance plans online and pick the one that suits your needs the best.
Hope that the information in this blog will prove helpful to you during car insurance renewal. Remember that these kinds of benefits are also applicable in comprehensive bike insurance too.
Take care, drive safely, and all the best!