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What Gets Covered Under Car Insurance?

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Whenever you opt for any plan of investment, you make sure to read the terms, conditions, benefits, etc. thoroughly before proceeding. You cannot risk your finances on something that does not give immediate returns. You must spend your resources wisely to save them for the future. And if you receive any monetary benefit, they are worth the effort. The value of the investment returns increases with every passing year.

Before buying a vehicle, every owner should know the importance of car insurance. Why should the car get insured? What are the benefits? What is covered under it? Users need to get their vehicles insured as it increases the safety and precautionary measures for road accidents and accidental injuries. The vehicle maintenance and repair post an accident can be costly, or even unaffordable for the owner. The car gets stolen, damaged, or also suffer dents while it is under your possession. 

Benefits of vehicle insurance

By getting the vehicle insured, the insurer pays for the damages caused by accidents, collisions, calamities, etc. It also covers hospital expenses, offers zero depreciation, and reduces the financial and legal cost. Hence, timely renewal is essential. Besides, it is illegal to drive without a policy. 

Following are some additional points covered under car insurance renewal, though the policies and the plan remains unchanged:


  • Accidental cover: The four-wheeler insurance covers all costs of the vehicle when it meets with a mishap while driving.
  • Own damage: It also covers losses caused owing to theft cases.
  • Third-party liability: The insurance can also compensate for injuries and accidents caused by the insured to another person.
  • Natural disasters: Calamities like earthquakes, cyclones, floods, etc., can destroy the vehicle. The insurance covers all those additional costs.
  • Human-made accidents: In the case where the car gets damaged by accidental fires, riots, strikes, etc. the owner need not worry about the expense as it gets covered under the insurance.
  • Personal accident cover: There have been cases where the accidents are fatal and caused the owner’s loss of life. Such incidents are also insured by insurance companies.


How to select the best insurance?

Many insurance companies and institutes offer vehicle insurance renewal at different rates and benefits. People need to gain knowledge and be aware of the schemes provided by every institute during car policy renewal. They should know what is covered, compare other programmes online, and choose add-on covers like roadside assistance, zero depreciation, flat tyre assistance, etc. Your No Claim Bonus also comes handy for reducing the premium rates. 

You could also use the digital mode and do online car insurance renewal, as they are not only timesaving but also allows you to pick and choose a scheme that fits your needs. 

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

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