New Delhi: If you own a vehicle, the law of the land requires you to get third-party insurance for the same. Many people get confused between car insurance and third-party car insurance and often start using these terms interchangeably- which is factually incorrect.
This article will help you understand the two terms in the simplest way possible.
Having the right knowledge will enable you to make the right decision while purchasing car insurance or third-party car insurance online. Let’s start with understanding what these terms are, followed by some things you should be aware of.
Things You Should Know About Car Insurance
Car insurance is a type of vehicle insurance that covers your vehicle and you against any damages arising out of natural disasters, accidents, or thefts.
If you have car insurance in place, you remain financially secure in unforeseen situations. To safeguard yourself against any potential losses, always check the clauses covered in the insurance plan before purchasing it.
While the car insurance covers you and your vehicle against damages, third-party car insurance covers you against any liability arising out of damage/accident of a third-party, property, or vehicle because of you. You need to purchase it separately as it doesn’t cover your vehicle’s damages. Also, there’s no car insurance without a pollution certificate.
What Is Covered In Car Insurance?
Before you start looking for car insurance or third party car insurance online, you have to be aware that not all policies are alike. The clauses and coverage differ significantly from one policy to another.
Considering you’re looking for a good policy, you can expect it to cover damages arising from accidents, theft, fire, natural disasters, personal accidents, and any third-party losses. You can always approach a good insurance agent and ask for add-ons if you want an enhanced coverage.
Usually, the add-ons are related to breakdown assistance, consumable cover, return to invoice cover, tire protection cover, passenger cover, zero depreciation cover, engine & gear-box protection cover, etc. If you don’t have much idea about these add-ons, it’s best to consult a professional and get all your queries answered. It will ensure you purchase the right insurance for your vehicle.
Careless/irresponsible driving attitude won’t get you compensation
If you purchase car insurance, assuming that it will cover you in all situations, you should be aware of the exceptions. No matter what insurance you’ve purchased, you won’t be saved against the damages if you’re found guilty of drunk driving or driving without a valid driving license.
Consequential damages, contributory negligence, own damages, and add-ons not bought are also not covered. Laws have been made in favor of accident victims.
Buying car insurance is one of the most crucial decisions you’ll make, so be sure to take it from an insurance company that will provide you excellent support even after the sale. Fast claim settlement, round-the-clock support system, and a clientele of happy customers are some of the things that you should pay attention to while getting an insurance policy. If all the right boxes are ticked, you can go ahead with the insurance without any hesitation.