Looking at 6 Major Benefits of Car Insurance - PowerPoint PPT Presentation

looking at 6 major benefits of car insurance n.
Skip this Video
Loading SlideShow in 5 Seconds..
Looking at 6 Major Benefits of Car Insurance PowerPoint Presentation
Download Presentation
Looking at 6 Major Benefits of Car Insurance

play fullscreen
1 / 3
Looking at 6 Major Benefits of Car Insurance
Download Presentation
Download Presentation

Looking at 6 Major Benefits of Car Insurance

- - - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript

  1. Looking at 6 Major Benefits of Car Insurance Car insurance is mandatory by law in India. Apart from the legal aspect, having four- wheeler insurance financially protects a vehicle from calamities and unforeseen accidents. For a more detailed look at how this coverage can help you, let’s look at 5 benefits that you can truly enjoy from having a car insurance policy. 1.Third-party liability This is one of the major aspects which is included in a car insurance policy. In situations wherein your car is involved in an accident that causes damage to the property of any third party, your policy covers the costs to be paid for their losses too. Also, in case of injury or death of a third party, your insurance shields you from any ensuing legal liabilities. 2.Personal accident coverage Another benefit of having four-wheeler insurance is that it offers cover in case of personal accidents. The amount of coverage I s pre-determined. This feature

  2. provides monetary protection for personal injuries or fatalities sustained in an accident that involves the insured vehicle. The insurance policy not only covers the casualties caused to the driver but can also be used to protect other passengers up to the pre-determined amount under the insurance plan. NOTE: Protects passengers only if traveling as per the vehicle’s seating capacity. 3.Vehicle repairs Car accidents can be traumatizing. You are never truly prepared for the mental, financial, or physical after-effects. However, the overall stress on your shoulders can be reduced with a comprehensive car insurance policy that foots the heavy bills that follow. If your vehicle suffers damage due to an accident, the insurance company assumes liability for a good deal of the expenses incurred for repairing the car. 4.Car theft protection Finding your vehicle stolen can be extremely devastating. The good news is that a comprehensive insurance plan covers car theft too. Once you file the claim, you are provided with the vehicle’s Insured Declared Value (IDV) after the insurance company conducts their due process of inquiry. 5.No claim bonus benefits One of the major benefits of having car insurance is that you can enjoy the no claim bonus (NCB). Customers are eligible for this benefit every claim-free year. NCB makes insurance even more affordable for the policyholder and is usually given out as a discount on the premium. 6.Add-ons for holistic coverage

  3. Another plus point of having vehicle insurance is that you can customize your car protection needs through add-ons. These add-ons truly enhance the scope of financial protection a vehicle has on the road. Here are a few popular car insurance add-ons. ●Roadside Assistance ●Return to Invoice ● Zero Depreciation ●Passenger cover ●Engine Protection While we cannot predict the occurrence of natural and man-made calamities, we can do our best to be prepared for them. With this in mind, the above-mentioned points prove how beneficial having a car insurance policy is. We hope this article helps you understand the importance of four-wheeler insurance today. Drive safe and take care.