Is Comprehensive Insurance Required?

India has over 28 crores of registered four and two-wheelers, and the number keeps growing every day. With the surge in the number of vehicles on the road, the risks associated with driving have also increased. In today's fast-paced world, it is no secret that driving has become an essential part of our daily lives. It is a quick and convenient way to get around for work, leisure, or running errands. However, with increased road traffic comes a higher likelihood of accidents, breakdowns, and other unforeseen events that can put you and your vehicle at risk. That's why, now more than ever, motor insurance is the need of the hour in India.

Is comprehensive insurance required by law?

• No, regardless of vehicle type, comprehensive insurance coverage is not required by law. However, the Motor Vehicles Act states that all vehicles plying on the road must have third-party liability insurance. This insurance covers damages or injuries caused to third parties in case of an accident involving the insured vehicle.
• In addition to third-party liability insurance, vehicle owners can opt for standalone own-damage insurance that covers damages to their four-wheeler.
• Although not mandatory, comprehensive car insurance can protect extensive protection to your four-wheeler from theft, natural disasters, and other risks.

Benefits of Buying Comprehensive Car Insurance

• Covers theft cases: Comprehensive coverage provides robust protection for your car in case of theft or damage caused by attempted robbery. However, it is critical to note that the coverage against theft applies if your entire insured vehicle gets stolen rather than just its spare parts. In other words, if any part of your car gets stolen, such as the wheels or side mirrors, the comprehensive coverage may not cover it.

• Coverage for third-party damages: Comprehensive coverage also provides coverage for damages caused to third-party vehicles or property. This means if you accidentally damage someone else's car, your insurance will cover the cost of repairs or replacements. The insurer will also reimburse the medical bill for any injury sustained by a third party by your insured vehicle.

• Covers vandalism: Comprehensive coverage offers protection against a wide range of intentional damage to your car, including scratches, broken windows, and other forms of damage caused by vandals. With comprehensive insurance, you can rest easy knowing you will receive coverage for any damage inflicted on your vehicle by malicious individuals. 

• Flexible coverage options: Comprehensive car insurance policies offer flexible coverage options, allowing you to tailor your coverage to your specific needs and budget by investing in suitable add-on covers, such as roadside assistance, zero depreciation cover, etc.