There are basically two types of motor insurance plans namely third party car insurance plan and the comprehensive car insurance plan. The first one is mandatory for all motor vehicles plying on the India roads as per the Motor Vehicles Act 1988 and the latter one is an optional cover which you can choose as per your wish. Comprehensive car insurance is a bit costlier than the mandatory third party legal liability only cover.
Which One Should You Go For?
See, the liability only car insurance has been developed to protect an insured person against the third party legal liabilities arising out of any third party injury, death or property damage. The main beneficiary of a third party car insurance policy is a third party not the owner of the policy. It is important to remember here that the third party car insurance will not offer any coverage if in case your own vehicle suffers any damage or loss from an accident or any similar incident.
But, the comprehensive car insurance policy makes sure you and your vehicle is all the way protected against any unforeseen damages or loss. The comprehensive motor insurance plan covers third party legal liability as well. This is an all in one cover for your car insurance policy.
Apart from the third party legal liabilities, the comprehensive car insurance covers the vehicle from damages due to a number of man-made calamities such as theft, fire, riots, vandalism, strike etc. and also covers the vehicle against various damages or loss due to a number of natural calamities such as earthquake, flood, storm, lightening, self-ignition etc. The policy oleo protects any damage to the vehicle when it is in transit by rail, road, train, air, elevator etc.
Conclusion:
It should be quite clear by now that the comprehensive car insurance is the one and only motor insurance policy that you should consider buying or renew your car insurance with since the policy offers coverage against third party legal liabilities as well as own damages.
However, it is advisable to compare various motor insurance policies online before you set your mind to buy or renew with any particular plan from any motor insurance company. At GIBL.IN you can instantly compare a number of top motor insurance plans from various car insurance companies at the click of your mouse instantly.
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