Today, comprehensive car insurance for your car is no longer a luxury, it is a necessity!
According to the Motor Vehicles Act of 1988, it is compulsory for all the vehicles running on the Indian road to have a minimum of a third party motor insurance policy. With this policy the vehicle owner is protected against any legal and financial liabilities that might come up in case of a vehicle being involved in any accident causing bodily injuries or damage to properties to a third party.
However, just third-party insurance is not enough when the aim is to protect your own car from the damages which are caused due natural or man-made disasters and have the peace of mind that comes from covering any financial burden due to this. Considering the possibilities of such damages are not so far fetched, it is smart to consider and know the comprehensive car insurance benefits. We at Chola MS Car Insurance explain how a comprehensive car insurance plan will provide 360 degree protection to your car. Comprehensive car insurance is the most ideal way to protect your car from any uncertainties in the future.
In this blog, we at Chola MS Car Insurance explain the benefits of comprehensive car insurance and why you should consider it.
The comprehensive car insurance benefits
The 360 degree protection
With the help of comprehensive car insurance policies, your vehicle is assured with 360 degree protection from fire accidents, vandalism, flying objects, and natural disasters. If the situation of your car goes beyond repair, you will be offered a big relief compensation by your insurer. This is one of the best comprehensive car insurance benefits when compared to the standalone third-party insurance policies. The compensation you receive would be equal to the Insured Declared Value (IDV) of your car.
Legal & Financial hurdles are covered
In the event of an accident, apart from the damages caused on your car, comprehensive car insurance benefits your car by covering the legal liabilities. It also covers the legalities and financial obligations for the tribunal hearings in such cases of accidents. Your car is provided with the mandatory third-party car insurance cover which is required to drive a vehicle in India.
Compensation incase of Death or Disability
In case, due to unfortunate circumstances, if someone meets with an accident and due to that, he/she dies or has to live with a disability, the comprehensive car insurance benefits the owner-cum-driver of that particular car which is insured by Chola MS car insurance by compensating the amount to the family of the deceased or my compensating to recover from the disability.
So, in the end, comprehensive car insurance is an all rounder policy, which includes a variety of coverage and is a better option than the standalone third-party car insurance policies any day. Comprehensive car insurance by Chola MS benefits your car and provides you with mental peace, as it offers the maximum layers of safety to you and your car and protects you from financial risks as well.