There was a time when luxury cars were
only owned by a select few. Today, the number of luxury cars has increased on
Indian roads. Owning a luxury car is still not easy but it is not a big deal
like old times as well. More and more people are willingly splurging on
high-end expensive cars. The premium car makers are eyeing India as a huge
market. It is either the soaring passion or the purchasing power that has
influenced people to buy luxury cars. In addition to these factors, one must
also not forget the easy availability of loans and whopping discounts that have
contributed towards the addition of luxury cars on Indian roads.
It is not only about buying a luxury car
but the maintenance cost of one involves a lot of money. In case of luxury
cars, even the smallest repair could cost you a fortune. Luxury car owner never
settle for substandard car servicing or unbranded spare parts as that may not
be a wise decision for the life and performance of a premium vehicle.
What makes the entire process of owning
and maintaining a luxury vehicle easy? It is car insurance. One must not be
convinced to buy a car insurance as having one is mandatory according to the
Indian government but there are people who own luxury cars and do not buy car
insurance as they don’t use it more often or do not consider it worthy.
If you own a luxury car and a car
insurance policy, you can easily claim up to Rs 50000 in case of damage. This
amount may not be a big challenge for those who own a luxury car but it is
always beneficial to have one.
There are some insurance companies which
offer car servicing and other exciting offers along with their car insurance
policy. This can be quite a freebie for those who own luxury cars as regular
servicing charges of a luxury car are also very high.
In India, you can find two types of car
insurance policies. However, one must buy third party insurance as it is a
mandate by the law. This type of policy covers costs associated to injuries or
property damage caused by the car in case of an accident.
One can opt for a full coverage on
luxury cars as the maintenance costs for repairs is really high. One must read
all the terms and conditions related to the motor insurance policy carefully
before selecting one.
If you own a luxury car and wish to buy
car insurance, look for add-ons offered by the insurance company as add-ons
usually make your car insurance policy more valuable and worthy. Selecting a
few add-ons could help you cover certain high costs related to the maintenance
of your luxury vehicle.
According to the industry experts, you
can buy a good comprehensive car insurance policy coupled with add-ons to get
the most out of the policy.