๐ What is Car Insurance?
Car insurance is a contract between you and an insurance company that provides financial protection in case of:
Accidents
Theft
Fire
Natural disasters
Damage to third-party property or injury to others
๐ Types of Car Insurance in India
Third-Party Insurance (Mandatory by law):
Covers damage to another personโs vehicle, property, or injury/death.
Doesnโt cover your own carโs damage.
Comprehensive Insurance:
Covers third-party damage and damage to your own car (due to accident, theft, fire, etc.).
Can include personal accident cover.
Standalone Own-Damage Insurance:
Covers only your car (accident, fire, theft, etc.).
Must be paired with a third-party policy.
๐ Key Add-Ons You Can Choose
Zero Depreciation Cover: Full claim without depreciation deductions.
Roadside Assistance: Help in case your car breaks down.
Engine Protection: Covers engine damage (especially useful in floods).
Return to Invoice: Get full invoice value if the car is total loss/stolen.
No Claim Bonus (NCB) Protection: Keep your discount even after a claim.
๐ก Tips Before Buying Car Insurance:
Compare policies online (premium, IDV, network garages).
Choose a higher IDV for better compensation.
Check claim settlement ratio of the company.
Renew your policy before the expiry date.
