Business Wire India
Understanding Car Insurance: More Than Just Compliance
Car insurance transcends being a mere legal obligation; it serves as a robust shield shielding both vehicles and their owners from unexpected adversities. The newly unveiled guide by Kotak General Insurance delves deeply into the multifaceted realm of car insurance, simplifying its various components, including:
- Third-Party Liability: Exploring the coverage provided against damages caused to third parties, their property, or bodily injury due to an accident involving the insured vehicle.
- Own Damage Coverage: Highlighting protection against damages sustained by the insured vehicle due to accidents, theft, natural calamities, and more.
- Comprehensive Coverage: The Comprehensive Plan offered by Kotak General Insurance is a comprehensive insurance policy designed to provide extensive coverage. This policy is carefully crafted to safeguard the policyholder in diverse situations, granting them a sense of tranquillity during your journeys on the road.
- Cashless Repairs: No one has to pay upfront for repairs if vehicle gets damaged; the insurance company takes care of the bills directly.
- Coverage to Accessories: Insurance covers policyholder’s car and any special add-ons that have been installed.
- No Claim Bonus: If anyone has yet to make any claims, one can earn discounts on premiums, even up to 50% off.
- Coverage of Bi-Fuel Systems: If one is using a bi-fuel system (like CNG), it’s covered under this plan, protecting investment.
- Damage to Third Party Property: If someone’s driving causes damage to others’ property, like their car or fence, it’s covered by policyholder’s insurance.
- Third-Party Death or Injury: If an accident leads to injury or even death of another person, insurance helps to manage the associated financial responsibilities.
- Zero Depreciation Cover: Even if car’s value decreases over time, this add-on ensures to get the full cost of repairs without considering depreciation.
- Optional Add-ons: One can extend the coverage further by choosing extra add-ons that suit the needs and offer more protection.
- Car Damage: If car gets damaged in an accident, the insurance helps cover the repair costs, so no one has to pay the full amount.
- Theft Coverage: If car gets stolen, the insurance provides compensation based on car’s value.
- Personal Accident Cover: In case of an accident, this covers policyholder, the driver, for any injuries and provides financial support during recovery.
- Car Damage due to Natural Disasters: If car is damaged due to events like floods or earthquakes, the insurance assists in repairing the damage.
- Car Damage due to Man-Made Calamities (e.g., Riots): If car suffers damage during unfortunate events like riots or vandalism, insurance helps with the repair costs.
- Car Damage due to Fire: If car is damaged by fire, whether accidental or due to other reasons, the insurance helps cover the expenses to get the car back on the road.