The Many Benefits of Car Insurance

Article by Samuel Thomas

Car insurance revolves around securing your car against unforeseen circumstances. With increasing number of car accidents today, it is only wise to secure your car from future damages. That is why different companies have come up with different car insurance plans. You may be the best driver around and may even take all the precautionary measures, but there’s no guarantee that the other drivers will do the same. So, why leave anything to chance when you have the option of car insurance?

The primary use of a car insurance policy is to provide protection to the car against losses incurred due to accidents or other unfortunate circumstances. Your best bet would be to opt for a fully comprehensive car insurance policy. Here, depending on your premium, your car is insured for just about anything. Even though it is an expensive policy to go through with, as the premium paid is much higher, it is probably the best that is available as it takes care of any kind of damage that your car may undergo. An important question to ask however, is how car insurance policy works? The insured pays a stipulated premium to the insurance company, which in turn covers the financial losses involving the car, for the duration of the policy. Car insurance covers aspects such as bodily damages, property damage liability, uninsured motorist coverage, medical payment, collision coverage, and others.

A lot of thought goes into purchasing the right kind of car insurance policy. Today, car insurance even has separate insurance types for men, women and teenagers! Men, as opposed to women, are considered to be rasher while driving and are thus more prone to accidents. Since teenagers are also considered to be in a group most prone to accidents, there is a chance that the premium they need to pay is higher.

With several cars’ insurance companies mushrooming everywhere, companies are constantly struggling to bring out the best car-insurance plans. Usually, four types of insurance covers are followed- fully comprehensive auto insurance, third party insurance, specialised car insurance, third party-fire insurance, and theft insurance. Companies in India thus offer car insurance at four different levels, depending on the premium you pay for it.

Consider the Third-party, fire and theft insurance policy; it involves a comparatively cheaper premium but insures your car when you are at fault and have hit a third party. This insurance covers the costs of your vehicle in case of fire, theft or accident and the benefit one receives from this is that the insurance company is essentially paying up for a damage that you have caused! The age of vintage cars and its functionality is an important aspect while considering car insurance for it. With specialised car insurance, vintage cars are covered with a policy similar to the fully-comprehensive plan, but since these cars’ requirements are different, the plan also varies.

Make sure you go through the terms and conditions of car insurance policies before opting for a particular one, as you must ensure that you opt for a policy that best fits your needs.

About the Author

Tata AIG Insurance is a leading general Insurance provider in India. The company provide various insurance solutions such as car insurance , shop insurance, building insurance & other insurance services for the individuals as well as corporate.

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