How Car Insurance Work In India? With the process of claiming Car Insurance getting better, it is now possible to get your vehicle repaired and ask the insurer to pay for it using your insurance policy. Here�s all you need to know.
The first thing you must do is to go through the insurance company�s preferred garages and get the repairs done at one of them. The insurance company will then pay for the repairs minus the items not covered under the policy, which will have to be paid by the owner of the vehicle, which is you. This is known as a cashless claim.
Types of Vehicle Insurances
There are two types of Vehicle Insurances � Comprehensive and Third Party
As the name suggests, a comprehensive insurance plan helps ensure the vehicle against any risk arising out of theft or damage to the vehicle, death of the driver and/or passengers in the vehicle during an accident, and damage caused by the vehicle to other people or property.
Coverage with Comprehensive Insurance
Comprehensive Insurance ensures the vehicle against:
E.g. Earthquakes, floods, typhoons etc.
E.g. Burglary, thefts, riots, strikes etc.
Personal accident cover
Provides personal accident cover for the individual owner-driver and passengers of the insured vehicle while travelling in, mounting, or dismounting from the vehicle.
Third Party Insurance
Third Party insurance only covers the damage done by your vehicle to other vehicle or property. It does not cover accidents, theft or damage to the vehicle.