Insurance is meant to minimise financial loss in the event of unfavourable circumstances. When you have car insurance, both your car and other people’s cars may sustain damage. A third-party liability car insurance policy covers the third parties that your vehicle may impact the Motor Vehicles Act of 1988; it is required, and driving without third-party insurance is illegal. However, there are better coverage options.
By reading on, discover the top 3 reasons why more than having third-party liability car insurance is required.
- Your Vehicle Isn’t Protected
Third-party liability insurance does not cover your car’s damages. In this case, you only pay an insurance premium to stay legal; your vehicle is not covered for personal injury. This implies that your insurance will not cover the cost of fixing your damaged car, for instance, if it skids and collides with a tree. Furthermore, you won’t be protected if a natural or man-made disaster results in your car being stolen or damaged.
- Limited Personal Accident Coverage
A third-party liability policy provides limited personal accident coverage to the owner/driver. The terms and conditions outlined in the online car insurance policy apply to this. Such a cover might need to be more adequate given the costs of network hospital stays and medical care nowadays. If you are injured while operating the vehicle, your medical expenses may be substantially more significant than the settlement you are awarded. Claims are subject to terms and conditions set forth under the motor insurance policy.*
- No Room For Add-Ons
Add-ons are an essential factor in extending your car insurance coverage. Although ageneric car insurance policy, you can tailor it with the right add-ons. For instance, you can buy an Engine Protection Cover to increase the coverage of your insurance policy or a Passenger Cover to insure your fellow travellers. However, purchasing such Add-ons with a Third-party Liability car insurance policy alone is impossible.
What’s The Other Option?
The points above emphasise the necessity for more than third-party liability insurance for your car. Opting for comprehensive car insurance fulfils the mandatory third-party component and ensures legal compliance in a single policy.
It also covers theft and damage to your vehicle, and you can add extras. A personal accident add-on can offer better coverage in the event of a personal injury. Popular add-ons like Roadside Assistance, NCB Protect, Zero Dep In Car Insurance, Return to Invoice, etc., are available for selection. Claims are subject to terms and conditions set forth under the motor insurance policy.*
Select an insurance plan with a reasonable insurance premium and sufficient coverage. Nowadays, buying car insurance online is incredibly simple. Go to the website of your preferred car insurance provider, select your plan, read the terms and conditions, send in the payment, and get the policy delivered to your email. You can use a car insurance premium calculator to estimate the costs of premiums to be paid. To ensure your decision is well-informed, carefully review the policy’s inclusions and exclusions. Keep a printout of your policy in your car along with your car’s registration certificate and pollution under control certificate (PUC). Remember to renew your car insurance on time.
*Standard T&C Apply
Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making any related decisions.
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.
