Car insurance is the only savior when your vehicle is affected by a sudden road accident. It will help to meet sudden expenses and bring them down so that you can cope with the situation. Through the coverage that it provides, you can meet different kinds of expenses which can otherwise put a severe dent on your finances.
Coverage for third party liability
One of the key coverage that it offers is for third party losses. When you drive on the roads, an accident can result in not just damage to your vehicle, but also to another vehicle, the driver of that vehicle or property. In such situations, it is possible for them to file a suit against you. Third party liability, expenses can be very difficult to cope with. They can leave you high and dry with stress and strain your savings . All this is prevented by third party car insurance, which cut down such expenses by paying for the losses.
Other Important Coverage Benefits
A car insurance policy offers protection against other losses also. It pays out in the event of damage to the vehicle from an accident, man-made or natural disasters. When the vehicle is damaged expenses will be very high. However, payment from the policy will mitigate them and enable you to cope with them. The policy also pays out if there the driver succumbs to serious injuries that causes loss of life or permanent disability.
In addition to the basic benefits offered by the policy there are many add-ons that you can opt, which will enhance policy coverage. You can opt for depreciation cover, roadside assistance cover, emergency fuel cover, cover for lost keys and much more. These extra benefits enable you to bring down so many sundry expenses that you are likely to face when using your vehicle. If your policy has cashless cover, you can get the car serviced in any of the garages that falls under the insurers network but without paying any cash. The insurance company will directly pay them for your repair expenses.
Period of coverage is for one year, after which the policy has to be renewed. If there is no claim in the previous year, at the time of renewal you can make use of the no claim bonus to get a discount on the premium.
How To Claim Car Insurance?
You can make a claim on your car insurance policy if your vehicle has undergone any of the conditions for which the policy will make a payout. Filing a claim is easy. Just visit the insurance companys website, fill their online application form and submit it along with supporting documents as required by the company. They will review the application form and documents after which the compensation would be settled. If you have taken cashless cover there is no need to complete a claims process.