Insurance is always a sensitive topic. Most people don’t like mulling about this because it is associated with accidents or misfortunes. However, with a smart and practical plan, you can protect yourself to a certain extent.
It is always advisable to insure your most valued possessions, like jewellery and vehicles. With jewellery at least you have lockers or banks, whereas with cars a good, solid insurance goes a long way.
Why buy car insurance?
Life throws curveballs from time to time. Instead of dealing with it emotionally, you have to find the courage to face it. And with a car insurance policy you can do just that. The right kind of policy will cover you from a lot of disasters and also secure you financially. Car insurance prices vary depending on the engine capacity, so get an expert to check that before you go for insurance.
Statistics
Car theft is an epidemic that affects almost all metros around the world. There is a full-fledged business which thrives on stolen car parts. Around 22,000 vehicles were reported missing in 2014, but only 2,322 were ultimately recovered. The massive total of stolen vehicles was 26,330 in 2013. Nationwide more than 36,000 cars were stolen in 2013, out of which 3,800 were from Mumbai. This clearly shows how far reaching the problem is.
However, you can make the smart choice and buy or renew car insurance that suits you. Remember that your car insurance policy is the most important document of your vehicle, because it protects you from all kinds of damages and legal problems.
Types of Policies
Some popular policies offered are:
- Liability Insurance
- Collision Coverage
- Personal Injury Protection
- Uninsured /Underinsured Motorist Protection
- Comprehensive Coverage
Although all have their benefits, Bajaj Allianz General Insurance’s comprehensive coverage is one of the best car insurances out there.
What does a comprehensive coverage do?
A good comprehensive coverage protects the consumer from natural calamities, man-made misfortunes, personal cover during accidents and legal liability cover. Let’s take a look at each of these:
Natural calamities
Natural calamities are fires, floods, any kind of explosion, tornados, storms, hurricanes, typhoons, torrential rains, frost and hailstorm, cyclones, lightning, landslides and earthquake. Any natural disasters which cause extreme damage to the car are included in this.
Man-made Disasters
These include burglary, breaking and entering, accidents by external means, riots, terrorist activities, devious acts and damage during travel by rail, water, road or air.
Personal cover
Comprehensive policy also covers the driver and passengers if they happen to be in an accident.
Legal cover
Another plus is that it provides legal cover in case of permanent damage or death.
This clearly tells you that the best car insurance to go for is a comprehensive policy. This is of course approved only if the claimant is able to give a convincing and satisfying explanation for the sequence of events that led to the claim.
How to claim?
The actual procedure is pretty much standard across all insurance companies. You need to fill out the claim form with as many details as possible and submit this along with documents. For e.g. in case of a theft, you will need the following:
- Original FIR
- Copy of the policy
- Filled-out claim form
- Copy of the driving license,
- Copy of the vehicle’s registration certificate
- Regional Transport Office’s transfer papers signed along with the necessary forms
This is just an example to tell you how the process works. Once you submit the documents, the company does a detailed survey to corroborate the facts. Once you submit the necessary documents, you need to wait for the surveyor to do the needful. It is advisable to provide all the correct facts and documentation to ensure a smooth claiming process.
Car insurance is an immutable part of general insurance and can prove to be a boon in time of crisis. Get Yours Today!