Reasons why you should buy a comprehensive insurance policy for your four-wheeler


Last Updated on March 10, 2024 by admin

Having proficient vehicle insurance is of utmost prominence. While third-party car insurance provides protection against third-party damage and legal liabilities, comprehensive insurance meaning depicts all-inclusive coverage. Make sure to analyse your requirements well before opting for an insurance plan that perfectly aligns with your requirements. Here are some of the reasons to buy a comprehensive insurance policy over third-party car insurance for your four-wheeler. Keep reading to know more!

1. Complete insurance cover:

Comprehensive insurance meaning describes protection against the damages caused by accidents and third parties. It is also called as a bumper to bumper insurance, as it provides complete protection against all adversities. Comprehensive insurance meaning depicts the insurance coverage received against third party car insurance liabilities and own harms caused to the insured vehicle. It ensures complete insurance coverage for both parties involved in the accident. It is one of the best plans that provide lucrative coverage for your four-wheeler. 

2. Personal accident cover:

Comprehensive insurance meaning depicts the inclusion of a personal accident cover, providing compensation for death or permanent disability to the owner of the insured vehicle. The third-party car insurance does not include personal accident cover. The IRDAI rule states that the vehicle owner has to purchase personal accident cover. However, you don’t need to buy it if you have a personal accident policy or another comprehensive plan. However, some providers may have not included this personal accident cover policy in the comprehensive scheme. Make sure to read the inclusions and exclusions well before opting for them. Although, you can get a personal accident cover add-on for such specific coverage. 

3. Coverage for various types of damages:

Your four-wheeler can have various damages even if it does not involves an accident. Comprehensive insurance meaning describes protection against the damages caused by accidents and third parties. It includes natural calamities like floods and landslides or problems like theft, burglaries, terrorist, and other malicious acts. 

All these acts cause financial losses to the car owner. However, third-party car insurance does not cover these losses. 

4. Coverage for natural, artificial, and third-party damage:

Comprehensive insurance meaning describes damages covered against natural and human calamities. It is always best to have a comprehensive car insurance plan, with unpredictable weather becoming common. For instance, the monsoon in Mumbai floods the city in a few hours and damages the car. However, third-party car insurance does not cover your vehicle against floods, storms, and natural calamities. 

Apart from natural mishaps, a comprehensive car insurance policy covers human calamities such as theft and terror attacks. You will get insurance coverage and will not face financial burdens. Also, comprehensive car insurance, by default, covers the damage done by third-party liabilities.

5. Useful add-on options:

Comprehensive insurance meaning depicts benefits received from excellent add-on covers. Add-ons are coverage received during accidents or vehicle damage by paying an extra premium. However, it may increase the premium amount and vehicle’s life. However, remember that you cannot avail of add-ons if you have third-party car insurance. 

Here are some add-ons you may include in your comprehensive policy for four-wheelers:

  • Engine protects
  • Return to invoice protect
  • Personal accident cover
  • Key replacement
  • 24*7 roadside assistance
  • Tire cover
  • Loss of personal belonging

6. Discounts:

It is best to opt for a comprehensive car policy rather than third-party car insurance. 

You can reduce the comprehensive car insurance premium by availing of the following discounts mentioned:

  • No claim bonus (NCB):

No claim bonus is one of the discounts a four-wheeler owner gets on the insurance premium for every claim-free year. Comprehensive insurance meaning describes protection against the damages caused by accidents and third-party car insurance. One of the best tips that help you maintain a higher NCB is to avoid placing petty claims on your insurance. 

You can get 50% of NCB if you manage a claim-free record for five consecutive years. 

Voluntary deductibles:

The deductible is a portion of the claim amount policyholders need to pay while raising the claim. You will get a discount on the four-wheeler insurance premium by opting high voluntary deductible amount. 

  • Anti-theft device installation:

Installing an anti-theft device in your car can reduce car theft chances. Thus, you will get a discount on the comprehensive car insurance premium by installing these devices. However, you have to approve these devices from AAI.  Having such devices installed may fetch you higher discounts from your insurance provider. 

  • AAI membership:

You can get an additional discount on your comprehensive car insurance premium if you are an active member of AAI. 

The comprehensive car policy will help you save big bucks on repair and replacement, while the third-party car insurance plan helps reduce the premium. 

Make sure to get your four-wheeler insurance from the best provider in India.