Comprehensive Car Insurance provides protection against any damages to you, your co-passengers, and your vehicle in addition to third-party coverage.
There are two types of Car Insurance in India. viz. Third-party insurance and Comprehensive insurance.
All car owners by law must compulsorily have third party insurance. Third party insurance protects you against losses, which occur due to bodily injury or death to a third party or any damage to that person’s property. However, the downside of third party insurance is that you can’t register claims for any damage to your own car. This is where comprehensive Car Insurance comes into the picture.
Comprehensive Car Insurance covers you against everything under the sun. It even covers you against damage from incidents such as fire, theft, weather, and any object such a tree falling on your car.
The cost of a comprehensive Car Insurance is obliviously more but the peace of mind it provides is unrivalled.
Many people get confused between comprehensive Car Insurance and a zero depreciation policy. Please make a note that even in comprehensive Car insurance policy the depreciation value of your car will be considered and you will have to pay a certain amount from your pocket.