Spinning around in your swanky car when someone bumps into it. No less than a nightmare, right? Don’t panic, take best car insurance right away and secure your car!
Always Opt for Zero Depreciation Cover:
Thinking about going for a basic best car insurance policy? Think again. Zero Depreciation add on cover assures you a full cover. Depreciation is the decrease in the value of an asset due to continuous use. In car insurance, it is the rate at which the value of the vehicle parts depreciates as the vehicle ages. During claims, an insurance company applies the depreciation rate to arrive at the amount payable for the damaged part. The difference between the depreciated part and the market cost of the new part has to be paid by the insured. Zero depreciation is an add-on cover that promises comprehensive coverage without factoring in for depreciation.
Why is Motor Insurance Mandatory:
Under the provisions of Motor Vehicles Act, all the vehicles operating in public places should have best car insurance policy at least to cover ‘third party liability’. It means that a car insurance policy must cover third party in case of any accident. Recent statistics say that about 70% vehicles, including cars, auto-rickshaws and two- wheelers do not have proper motor insurance policies. The government is imposing heavy penalty on such defaulters which is expected to increase significantly in the near future.
24/7 Spot Assistance Add-on is an Advantage:
Stranded in the middle of the road because your car broke down? 24/7 spot assistance can come to your rescue in such times. It provides you with facilities like car towing, fuel assistance, legal assistance, taxi arrangement etc.
Minimum is Not the Way:
Getting a coverage by paying the minimum premium amount is not a wise decision. Sure, it might save you some money but it will not help you in the longer run. For example, if you choose a high deductible policy, you will have cheaper premiums but that also means you will have to shell out more from your pocket when you make a claim.
Do Yourself a Favor and Get an Engine Protector:
If you have opted for an engine protector cover and your engine gets stalled because of leakage of oil, water ingression or damage to the gear box, you will save a lot of money from your pocket in case of a repair as the insurer will pay for this loss.
Protect Yourself with an Accident Shield:
Met with an accident! Get compensation for all the occupants of the car in case of death or total disability arising out of an accident.