What Should I Go for, Third Party or Comprehensive Car Insurance?





There are basically two types of motor insurance plans namely third party car insurance plan and the comprehensive car insurance plan. The first one is mandatory for all motor vehicles plying on the India roads as per the Motor Vehicles Act 1988 and the latter one is an optional cover which you can choose as per your wish. Comprehensive car insurance is a bit costlier than the mandatory third party legal liability only cover.

Which One Should You Go For?

See, the liability only car insurance has been developed to protect an insured person against the third party legal liabilities arising out of any third party injury, death or property damage. The main beneficiary of a third party car insurance policy is a third party not the owner of the policy. It is important to remember here that the third party car insurance will not offer any coverage if in case your own vehicle suffers any damage or loss from an accident or any similar incident.
But, the comprehensive car insurance policy makes sure you and your vehicle is all the way protected against any unforeseen damages or loss. The comprehensive motor insurance plan covers third party legal liability as well. This is an all in one cover for your car insurance policy.
Apart from the third party legal liabilities, the comprehensive car insurance covers the vehicle from damages due to a number of man-made calamities such as theft, fire, riots, vandalism, strike etc. and also covers the vehicle against various damages or loss due to a number of natural calamities such as earthquake, flood, storm, lightening, self-ignition etc. The policy oleo protects any damage to the vehicle when it is in transit by rail, road, train, air, elevator etc.

Conclusion:

It should be quite clear by now that the comprehensive car insurance is the one and only motor insurance policy that you should consider buying or renew your car insurance with since the policy offers coverage against third party legal liabilities as well as own damages.
However, it is advisable to compare various motor insurance policies online before you set your mind to buy or renew with any particular plan from any motor insurance company. At GIBL.IN you can instantly compare a number of top motor insurance plans from various car insurance companies at the click of your mouse instantly.

Comments

Post a Comment

Popular posts from this blog

Do’s & Don’ts for Car Insurance If You are a College Student

Image
As per law, if you have a car and driving on Indian roads, you have to opt for at least a third party car insurance policy . Armed with an effective car insurance policy, you can enjoy your drive in a worry-free way even if you are the most experienced drivers. In case you are a college student and new in driving and you’re in complete perplexity on how to go about purchasing a car insurance policy. This article is especially dedicated for young, energetic and new age drivers about what they should do or don’t while purchasing a car insurance policy. Do’s While Buying a Car Insurance Policy           First you have to draw a comparison with regards to plans, features, benefits, premiums offered by different car insurers and then purchase online.           While choosing any car insurance policy , you have to evaluate the add-on covers. Additional covers of motor insurance comprehensive policy enhance the policy coverage - means it gives your plan a double protection
Read more

Easy Steps to Buy the Best Car Insurance Online

Image
Car insurance has been made compulsory by Motor Vehicles Act. There is a plenty of car insurance companies available in India to cater to the increasing demand for car insurance plans. So, you have to know the right steps to find out the best car insurance online. Choose the Right Coverage All car insurance plans come with both third party liability and comprehensive coverage. A car insurance online policy with liability coverage is mandatory so you have no choice but to go for it. A comprehensive car insurance policy is optional but it offers protection to the insured vehicles. So, you should opt for it as it is the best car insurance policy online . Avail Additional Coverage Carefully Best car insurance plans come with a range of add-on covers. You can avail personal accident coverage for pillion riders and protect the accessories of your car by paying additional premium on your car insurance renewal. Armed with these additional protections, you can keep y
Read more

Why Should I Buy Car Insurance Policy?

Image
With the rising numbers of on-road accidents, having the best car insurance policy certainly calls for an immediate action. However, if you are still wondering why you should buy car insurance policy, let me give you some reasons. Compulsory by Law The third party liability is the core reason behind this mandate. A motor vehicle running in a public space can cause various damage or loss to the life and property of others. Third party liability only policy covers such liabilities such as third party death, bodily injury and property damage borne by the insurer. This is the reason why no vehicle own car drive their car on road without this cover. Covers Third Party Legal Liability As per the Motor Vehicles Act 1988, it’s mandatory by law that all owners of motor vehicles at least buy the third party car insurance policy. This policy helps you get away from any legal consequences that could arise due to damages caused to a third party person/property on th
Read more