All you need to know about Car Insurance
A policy that covers all the hazards connected to cars is called car insurance. It also goes by the name "Motor Insurance" and offers protection against any monetary losses brought on by accidents, including collisions with other vehicles or objects, theft of the car or its components, damage from water or fire, etc. A car insurance premium varies on various parameters like age of the vehicle, model, make, variant, engine and location.
What is a car insurance?
A policy that covers all the hazards connected to cars is called car insurance. It also goes by the name "Motor Insurance" and offers protection against any monetary losses brought on by accidents, including collisions with other vehicles or objects, theft of the car or its components, damage from water or fire, etc. A car insurance premium varies on various parameters like age of the vehicle, model, make, variant, engine and location.
Why is it important to have a car insurance?
- Gives you peace of mind
- Covers physical damage to the car
- Covers third-party liability
- You are also protected with 15 lakhs of a personal accident cover
- Cashless service available
- Lot of add-on covers are available, which help in better coverage of your car
What are the types of car insurance?
There are three key components / covers of a car insurance policy -
- Third-Party Car Insurance: A third-party car insurance policy offers financial protection against harm done to another person or their property. It does not offer protection to your vehicle against any losses. It is compulsory to have a third-party insurance as per The Motor Vehicle Act, 1988 for all vehicles plying on the road.
- Own-Damage Car Insurance: An own-damage car insurance policy provides protection against damages caused to the car due to an accident or a mishap and does not cover third-party liability.
- Comprehensive Car Insurance: A comprehensive car insurance policy covers against third party liability as well as damages caused to the car due to an accident or a mishap. It protects the car against both natural and man-made catastrophes, such as earthquake, storm, flood, fire, theft, road accident, etc.
Comparison between Comprehensive, Third-Party and Own-Damage covers
| Type of Cover | Comprehensive Car Insurance | Third-Party Car Insurance | Own-Damage Car Insurance |
|---|---|---|---|
| Damage to the car due to an accident | Yes | No | Yes |
| Theft of the car | Yes | No | Yes |
| Injuries to the third-party | Yes | Yes | No |
It is advisable to every car owner to avail of a comprehensive car insurance, which helps the car owner safeguard self as well as the third-party in a circumstance of an unfortunate event. At Jio Insurance Broking Limited we help you understand these covers and choose the best fit product at a competitive rate and beneficial features!
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Jio Insurance Broking Ltd
Jio Insurance Broking Limited
IRDAI License No: 347,
Direct Broker (Life & General),
Valid upto: 11/03/2028
(Renewable)
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Email Id
customer.care@jioinsure.inCIN
U67200MH2006PLC165651
Registered office address
1st Floor, Building - 4NA, Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051
Discount is offered by the insurance company as approved by IRDAI for the product under file & use guidelines.
Insurance is a subject matter of the solicitation. For more details on policy terms, conditions, exclusions, limitations, please refer/read policy brochure carefully before concluding sale.
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