Different Types Of Car Insurance Coverage

                    Different Types Of Car/Automobile Insurance Coverage and Details

Car insurance is very much mandatoy clause in Indian legal system but still it’s in “chalata Hai” catagory of indian public . You should go for car insuance not because it’s just Mandatory thing but It’s very necessary thing for safety of your property and in case you don’t want to pay from your own pocket for damages.

Insurance Types are classified in two categories “Use of car/automobile” and other is Damages- who is getting compensation for damages .

• Category of Insurance on basis of   Damages

1. Third Party Car Insurance.

In case some other people get Injuries. Their Car, Property get damaged due to your driving then this category of insurance is applicable. You have to pay to third party for damages because you are the one who some way responsible for it. This is mandatory insurance under Indian legal system, there should be at least some third party insurance ,so if you are the spoiler then damaged party should get compensation

For example if you meet an accident then other party get paid for damages of medical and other destruction of property if claim comply with policy . Third party Insurance policy also depend on type of Engine used in your car, It’s speed and Power.

NOTE: Third Party Insurance doesn’t compensate for your own damages.

2. Comprehensive Car insurance:

Unlike a third party Insurance which covers only third parties damage , comprehensive policy

offers complete Protection from both Third party and your own damages . Notwithstanding this, the Insurance additionally covers any harm to your vehicle because of any characteristic catastrophe, misfortune or harm to your vehicle because of reasons like burglary, robbery, terrorist attack , and any repair in travel.

You can even choose insurance cover for your car accessories like internal system music and AC under this policy . The premium comprehensive insurance is ascertained on Price of the your vehicle/car.This policy cover wide range of things so Premium version aslo cost higher compare to Third Party Premium car Insurance.

Both Type have Primium version of Car Insurance which contains futhur Optional Types like

I . Collision Coverage

II. Personal Injury Protection

III. Uninsured /Underinsured Motorist Protection.

• There are broadly two types of Insurance in Automobiles of Automobile category on Usage

1. Private Insurance

Its insurance for for your Private automobile, you will be paid damages only in case of Private use. Remember this policy doesn’t work if you use you car for commercial purpose mean you rent it or use as transport for commercial goods and etc.

2. Commercial Insurance

This is common insurance for Commercial Purpose Automobile . In case you rent your car or Automobile or use it for transportation or use it as Taxi.

• Important factors for choosing car Insurance

1. Price :

According your financial condition , Obligation , Loan what should be the Best ? can you afford Primium car Insurance Policy ? Price allways play important Role.

2. Range of Insurance Cover

Which things of car you want to cover ? If you want wide range of cover like car accessories then Primium is better . It contains Various things Like Injury Protection for you and Passangers in car .Primium car Insurance cover Repair of car after accident even if you hit by somelese who don’t have third party Insurance .

Every year Car Insurance get Renewed so market value of your old car goes down every years so the Lower Primium which reduces with Value of your car . Except Third Party Car Insurance which dosen’t change Year because it depends on your car Engine .