Your car is one of your most valuable assets. It is also the asset most at risk.
The biggest benefit of car insurance is that it provides protection against total loss of car in case of theft, snatching or any accident. In any of these cases, your loss can be in tens of lacs – whatever the value of your car is.
In case of total loss of your car, the insurance company will give you the market value of your vehicle – the vehicle you lost – so that you can get the same model again.
On top of total loss protection, your car will also be protected in case of minor accidents. In case of a minor accident where a car needs to be repaired and new parts need to be installed, the insurance company will pay for repair and replacement at a 3S dealership near your home. This coverage is called partial loss coverage.
Total loss coverage and partial loss coverage combined make up a typical auto insurance plan. Once your car is insured, you can breathe easy and not worry about your prized possession when it’s out on the road or parked anywhere outside.