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All you need to know about your Policy Coverage in case of a Road Accident

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Road accidents are tragic. Even thinking of one paints a grim picture. A car accident can be damaging to the car, person driving, people seated inside, other vehicles, their passengers, people on the road, and someone else’s property. There can be loss of life as well. Due to such a devastating impact, it is advisable to purchase an extensive car insurance policy. It can secure you from facing financial losses in case of unfortunate events such as a car accident.

Image Source – Car Insurance

However, your car insurance policy coverage will determine whether you will be compensated for the financial loss or not. Read ahead to know details about policy coverage.

Third-party Car Insurance Policy Coverage

If you want to drive a vehicle legally in India, it is mandatory to purchase at least a Third-party Car Insurance Policy. This compulsion is mainly directed towards protecting financial interests of those affected by your car. This policy also covers damages to the car owner/driver up to an extent. However, this policy will not cover damages to your car.

Example – Your car is involved in an accident where you injure a person walking on the road, damage your car’s bumper and cause an injury to self. Under a Third-party Car Insurance policy, damages to the third person and injury to self shall be covered. But the damage to your car bumper will not be covered.

Comprehensive Car Insurance Policy Coverage

Going for a Comprehensive Car Insurance Policy is a good way to ensure that your financial interests are taken care of in case of a car accidents. Considering the above benefit, the damages to your car will also be covered if you have this cover. Comprehensive policy is meant to insure your vehicle from accidents, theft, and damage due to calamities. It includes the mandatory Third-party Liability cover and also covers injury to owner/driver.

Add-on Coverage

Another advantage with a Comprehensive Car Insurance Policy is that you can strengthen it by opting for suitable Add-on covers such as Zero Depreciation, Roadside Assistance, etc. Your coverage will be enhanced if you opt for Add-ons. For example, a Personal Accident Cover might come in handy if you have sustained several injuries due to the car’s accident.

Car Insurance Claim

Your insurance company will check your policy’s coverage when you apply for a car insurance claim. The policy’s insurance coverage will determine the extent of compensation you shall receive in case of unfortunate events such as an accident. The general process in case of car insurance is as follows:

  • Apply for a claim
  • The insurance company shall assign a surveyor
  • The claim is either approved or rejected based on the surveyor’s report
  • If approved, claim shall be cashless or reimbursed later

Choosing The Right Policy

If you only have a Third-party Liability policy, the insurance company will not be able to provide you any compensation for damages to your car. Choosing the right policy is important if you want adequate coverage for your car. Thus, consider your exposure to risk, your locality’s vulnerability to calamities and theft, the traffic in your area, your daily route, the people you travel with, the value of accessories in your car, etc. before purchasing car insurance. Research well and purchase a car insurance policy that meets your requirements.

Buying a car insurance policy is absolutely easy. You just have to visit your preferred insurance provider’s website and purchase it from there. The process doesn’t differ much from the one that is followed while purchasing items from popular E-commerce websites. Please check your policy’s inclusions and exclusions before purchasing a policy. Once you make the payment, your policy will be emailed in your inbox within minutes. Make sure to keep a hard copy of your insurance policy in your car and always drive safely.