For most of us, buying a
new car is a significant milestone. We spend months analyzing and comparing
different models to lock in on that one car that can be a perfect fit, not
always just for us, but also for the entire family.
But while we pour our
heart, time, and energy into locking in the nitty-gritty of our new companion,
here’s where we forget to read the fine print – the Car Insurance.
In the excitement of
starting a new journey, we forget one very important thing – buying a car is
one thing, but maintaining it is an entirely different ball game. Bad roads,
negligent drivers, careless bystanders, and sometimes, even sheer bad luck, can
put you in a financial mess.
From a small dent in the
car to major accidents and natural disasters, the list of daily threats on the
road is endless. Unfortunately, any bad day can leave you cash-strapped, and
that’s precisely why comprehensive car insurance plays a significant role in
your buying journey.
If you haven’t finalized
the decision to opt for a car
insurance plan, we have covered some crucial reasons that will help you make it. Along
with Bajaj Allianz General Insurance, we have created a 3-point checklist of
all the reasons why you need to lock in on an insurance plan for your car.
Having to deal with the Expenses of Own Damage
Not just accidents, but
several things can go wrong with your car. Natural disasters like flash floods
or earthquakes can wreak havoc.
Cars can malfunction due to
technical glitches. No matter what’s the reason, servicing a vehicle is
expensive. Car insurance plans cover ‘Own Damages’ that help us deal with unexpected
damages and expenses.*
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Having to deal with Third-Party Liabilities
As we mentioned before,
cars are simply machines that can sometimes malfunction due to technical
reasons. A car can go out of control and cause damage to civilians and public
property. A comprehensive car insurance plan covers Third-Party Liabilities
that compensate you for any kind of damages caused and cover any legal
liability arising out of the same.*
Having to face the financial consequences of Personal
Accidents
Be it a minor scratch from
a passing car or a significant fender-bender, any car insurance plan that
covers ‘Accidents’ will compensate you for all the expenses incurred.
That’s not all; a
comprehensive car insurance policy also compensates for any permanent
disability arising due to a car accident. Again, this reduces the financial
distress caused to the family.*
Now that you know the “why”
of buying comprehensive car insurance, here’s a quick rundown of the benefits
of the policy:
●
If your car has been in an accident, a victim of a theft, facing
technical issues or is damaged because of a natural calamity, comprehensive car
insurance can cover the financial losses.*
●
If your car has been involved in an accident that has damaged someone
else’s vehicle, comprehensive car insurance can cover the expenses so you don’t
have to pay out of your pocket.*
●
If an accident happens while you are in your car, leaving you
permanently disabled or causing your untimely demise, a good comprehensive car
insurance plan can help deliver suitable compensation.*
●
A comprehensive cover can protect your car from any and all unforeseen
damages, even if they are not caused by a third party. It can offer coverage
for a variety of reasons, such as earthquakes, damages from falling/flying
objects, collisions with animals, fire, and floods.*
*Standard T&C Apply
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Companies like Bajaj
Allianz General Insurance offer plenty of reasons to lock in on car insurance. Apart
from offering great value via NCB during car
insurance renewal online or
offline, they give you extended benefits like zero depreciation cover,
consumables cover, breakdown assistance, conveyance benefits, and much more!
Bajaj Allianz General
Insurance also covers things like personal baggage theft/damage, offers
paperless digital insurance applications, and makes
processing, and claiming services a lot easier. Their Motor OTS feature facilitates
claim settlement up to INR 30,000within just 20 minutes.* Terms &
Conditions apply.
It sounds like a good deal
to us! You can check out more details of their policies online and secure appropriate coverage within minutes. Insurance is the subject matter of
solicitation. For more details on benefits, exclusions, limitations, terms and
conditions, please read the sales brochure/policy wording carefully before
concluding a sale.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.