Is your Car Insurance Coverage Sufficient Enough?

Policies like motor safe plus are readily available at insurance companies’ websites such as www.lombord.com. A thorough research online and not a case study on auto insurance is important for buying insurance. HDFC Bank Car Insurance Calculator is another efficient tool to compare policies online in order to get the best.



Use HDFC Bank Car Insurance Calculator to Compare Various Plans

According to Indian motor laws every car owner must carry a valid car insurance policy. Car insurance coverage includes damages or loss to your vehicle in the event of an accident, fire, theft, natural disasters etc. There are two types of car insurance which includes Third Party Insurance and Comprehensive Insurance. In return for car insurance you are required to pay a premium which depends on the type of car you own, the age, the location where your car is usually parked and other factors as determined by the insurance company.

A Third Party Policy includes car insurance coverage that extends to damage or injuries caused to a third party only. This is the coverage that is mandatory according to law. If you hold a third party policy you will be protected from having to pay for any damages to the party. In addition, all the legal expenses involved will also be covered. However, damages to your car or medical expenses for injuries that you might be inflicted with are not covered. Car insurance coverage for a third party policy includes:
• Third party injury
• Third party death
• Third party property damage

A comprehensive policy such as motor safe plus includes all the benefits of a third party policy and also covers financial losses due to an accident, theft, fire, riots, and natural disasters. By paying an additional amount you can also include car insurance coverage for accessories such as a music system, air-conditioner etc. A policy such as motor safe plus involves paying a higher premium than a third party policy. However, you must remember that it protects your car as well as you from paying medical and hospitalisation expenses that are beyond the reach of common man today.

Car insurance coverage in a policy includes:
• All third party benefits including death or body injury to a third person
• Loss or damage to your car due to accidents, fire, riots or strike, explosions, lightning, burglary, housebreaking or theft, and natural disasters.
• Transit by road, air, or lifts.

The premiums you are required to pay depend on the year of manufacture, the accessories, seating capacity, and the power of the engine. If you purchase a new car, the auto company may provide you with free car insurance coverage for a limited period. However, you will need to renew the policy in order to continue to reap the benefits of insurance.

When you decide to buy insurance you need not carry a detailed case study on auto insurance. Instead search online for websites offering insurance such as www.lombard.com and you will find the details for all policies.