Aneka Info

Car owners have assured their cars safely. But do they really understand the insurance policy? Had you have to have certain intentions in mind while taking the policy, but are you sure that your car against these risks be protected? So, here are the basics, you should know about car insurance, with which to make an intelligent decision.

Car insurance is a must?

The Indian law says that every vehicle on the Indian way must have a valid insurance covering at least the cost of damage that can cause the vehicle to other people or vehicles.

In the case of damage covered under the terms of the insurance contract (and, as long as there is no fraud involved in) the insurer the amount rather than you having to will pay from the carry bag. In most cases, insurance covers costs, by accident, theft, fire and natural disasters such as floods, earthquakes, or hurricanes.

Forget the compulsion; without it, it is advisable that your have assured new car. It is not always the neighbor is injured; Your car could lead to an accident. It is really value spending a certain amount for car insurance. Car insurance policies must be renewed annually.

Types of car insurance

Basically insurance policies car are two: third-party and comprehensive. Consider in detail.

Liability insurance

This type of insurance covers the damage by your car to third parties. It is the minimum that you need, as per Indian law, that, if a person or vehicle as a result of your driving is damaged, the third must be compensated. For example, if you take while driving with an accident, the insurer for damage pay in another vehicle and people in the car. You or your car will be not covered but in accordance with this directive.

The bonus here is calculated based on your car engine. Since this directive of only third-party damage covers, the premium relatively less is policy when compared to a full cover.

Fully comprehensive insurance

It explains the name; It is comprehensive. This car insurance covers the damage, you also as the third. In a meeting with an accident, medical expenses that you, passengers in your car as well as medical expenses cover the other party. The insurer takes also expenses to your car and the other vehicle.

In accordance with this directive, the insurer for all damage pays by your vehicle in the case of any natural calamity, theft, burglary, terrorist activities or a repair in transit. There are insurers to cover even car accessories like the stereo and air conditioning in your car.

The bonus here is calculated based on the insurable value of your vehicle. The comprehensive auto insurance premium is usually higher than the coverage range of the third directive is compared.

What coverage do I need?

There are two things in mind to keep, while for the selection of car insurance:

(1) What is my ability that pay premium?

Liability insurance is that you must have legal minimum cover in India. If you want something more, think what kind of risk you can afford to protect. You may already need a car loan repay all other credit or any other financial commitments. Calculate and find out whether you can pay the premium for your car insurance.

(2) Additional scope of coverage

There are additional amount which, as long as you are ready, would cover more of the kind of situation you want services. For full protection, you should an all inclusive policy for your car. The amount of the premium is based on the coverage that you choose. The types of coverage typically include:

Personal injury protection: Passengers in your car and you get insured in the event of an accident.There is yet another feature, if you cover your car drivers.
Uninsured/underinsured coverage:Pays hit by another vehicle, still not insured, the insurer for damage, you and your car.
Collision:In the case of a collision with an another car or object, the directive covers repairs to your car. All repair expenses exclude your vehicle, the voluntary amount that you want to pay on your own is covered.
Car accessories:This additional insurance covers damage to your car stereo and air conditioning.

If your car grows older, its Wert fails to and the premium for your car insurance if you have opted for a comprehensive policy. However in the case of a third-party car insurance the amount of the premium remains constant as the amount decided based on the engine size is always the same.