How do you choose the best car insurance plan for your vehicle?

 

Different car insurance plans offer various levels of coverage. To find the ideal plan for you, it is essential to understand what each type offers. There are three main categories of motor insurance: comprehensive, own-damage and third-party policies.This article will help you in identifying the distinctions between them , so you can determine which most suits your needs.

What is Third-Party Car Insurance?

Third-party insurance for cars, as it's name implies it only covers damage caused by third parties.

With insurance coverage you get:

1. Third-party property damage

If your vehicle causes harm to another's property, you can receive compensation. No need for you to worry about the hassles involved as the insurance company will handle everything directly with the responsible party.

2. Third-party vehicles damaged

Third-party coverage is the most popular type of policy - it covers vehicular damages caused by your vehicle to other drivers.The insurance company pays for any damages caused by your vehicle an outside party with no additional expense to the driver.

3. Third-party bodily injury or death

When another individual experiences bodily injury or death caused by someone else, the situation becomes gravely serious.

Your insurer will cover medical expenses if a third person is injured in an accident. Furthermore, they'll pay benefits to beneficiaries in case someone else dies as a result of said incident.

4. Legal Protection Provided

Legal issues arise frequently throughout life. With coverage for these legal concerns, insurance can offer peace of mind when facing legal disputes.

If you file a case in the court relating to an accident on the roads and you are awarded the legal cost of the incident.

It is crucial to remember that insurance policies for third party autos do not provide any reimbursement for damages done to your vehicle.

What Covers an Owner Damage Car Insurance Policy?

India requires third-party auto insurance as a mandatory part of their policy. Under this plan, you are not covered for both your vehicle and yourself; therefore, you will need your own damage coverage to cover these costs. This plan includes:

1. Vehicle Damage

This coverage is the most comprehensive and available with an own damage plan. . Many of these plans offer cashless claims as well, making the process even simpler.

2. Fire Loss

Vehicle fire accidents are unfortunately all too common. They may happen due to a cause which is why you may be eligible to claim on your auto insurance policy in the case that your vehicle is completely or partially damaged due to this fire.

3. Coverage for Theft

You don't want your car taken away, but unfortunately thefts do happen and insurance can help you get compensated. With your own damage plan in place, you can create the ideal scenario and secure this coverage.

OWN Damage Car Insurance Plans offer comprehensive and healthy coverage for your vehicle. If you already have a third party car plan, it may be beneficial to invest in your own damage policy.

What is Comprehensive Car Insurance Policy?

Comprehensive motor insurance policies are composed of third-party and own damage coverages, thus the name. Comprehensive policies offer coverage for your car as well as mandatory third-party coverage, providing complete protection in all aspects.

What Is the Difference Between Comprehensive Car Insurance and Own Damage Car Insurance? Comprehensive car insurance is different than own damage car insurance, meaning that it covers any damages to your car that are beyond repair.

Here are the main distinctions between comprehensive and own-damage car insurance:

Scope of Cover

Comprehensive plans offer both third-party and own damage coverages under one comprehensive motor policy umbrella. On the other hand, personal damage plans only cover damages to a policyholder's vehicle.

 Price

Comprehensive plans have a higher premium than own-damage plans due to the additional coverage they provide.

Legal Costs

 

Comprehensive policies cover all third-party claims. If someone brings you to court following a road accident, comprehensive plans will pay your legal expenses. Own damage plans do not provide third-party coverage, so these costs would not be covered - yet another distinction between motor insurance types.

Here are the main distinctions between comprehensive car insurance policies and those that cover damage. Make sure you understand everything necessary for getting the most suitable policy.

Conclusion

As you can see, there are significant differences between a Comprehensive Insurance Policy and an individual auto policy. Research the coverages offered under both plans carefully and make note of all your requirements. Compare them against what's offered so that you find the plan that best meets your needs. Protect your car by getting the appropriate type of motor insurance policy today!