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Insurance Article

Reduce legal and financial setbacks during an accident with a motor insurance policy

April 20 2010

Repair charges for damaged car parts is likely to run a large bill if a variety of essential car parts need replacement for optimum functioning.

All such financial hassles and panic can be greatly reduced if your car is insured with a well designed motor insurance policy. The regulation formulated by the IRDA makes it mandatory for all car owners to have a car insurance policy with at least the coverage for third party liability. This cover is extremely essential as car owners caught driving without this cover or with an elapsed policy will have to pay a hefty fine.

This policy offers coverage against any legal liabilities which are likely to arise due to permanent injury or death of a person. It also offers protection in the form of a legal cover if any action and legal proceedings are initiated against the car owner involved in an accident. However, the protection offered by this minimal cover may prove ineffective in the future.

It is thus wise to opt for a comprehensive motor insurance policy which offers sufficient coverage to reduce legal and finical liabilities to a considerable extent

Damage caused to your car due to an accident is covered if your policy plan includes the coverage for zero depreciation. The policyholder can avail of cashless claims in a network of garages across the country. Thus, by including the correct optional plan and with the payment of a negligible, additional premium amount you can completely avert repair charges.

This policy feature makes the insurance provider liable to settle all the replacement and repair charges of damaged car parts. Also, based on the policy plan selected by you, you can also enjoy free towing. This further adds to the convenience of deselecting a comprehensive motor insurance India policy.

A car accident may also cause physical injury to the driver owner. With your comprehensive motor insurance India policy, you are eligible for the personal accident cover without the payment of any additional premium. The compensation offered by this cover to the driver owner is sure to reduce the burden of footing all the treatment bills.

This policy also allows policyholders to extend the benefits of this policy to co-passengers by including the optional coverage of personal accident for co-passengers in the policy plan selected by you.

With all these benefits, it is wise to opt for a comprehensive insurance policy for your car and safeguard your finances when faced during an accident or an unfortunate event.

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