Car insurance, also known as auto insurance, gives coverage for your car, protecting it from theft, damage and vandalism. To get the coverage, you need to pay premiums. In the event of any unfortunate events covered in your policy, your car insurance provider will bear the required expenses.
Car Insurance Types
There are different types of car insurance. Some plans protect your car against damages due to accidents whereas others safeguard it from theft and vandalism. Remember policies for two wheelers and cars are not same.
Own Damage Insurance: This type covers repair costs and loss of belongings in case of damages due to wear and tear, natural calamities, natural fire, vandalism, riots etc.
Third-Party Insurance: This insurance protects against damages and injuries caused by someone and not those harms inflicted due to one’s own fault or theft. The premium for third-party insurance is usually lesser than other insurance premiums.
Collision Insurance: These policies provide coverage in case your car collides with other vehicles or stationary items.
Comprehensive Damage Insurance: This policy, usually tied to higher premiums, provide coverage for own and third-party damages.These policies require you to pay a deductible before the insurer starts paying.
Car Insurance Benefits:
- Coverage for damages and losses
- Personalized policies according to one’s needs and budget
- Property damage liability (in some cases) and bodily injury liabilities
- Offers available for two-wheelers and commercial vehicle
- Coverage for car owners, family members and anyone using the car with written permission
For more insights into car insurance policies, reach out to our team at Arthavidhi.
