It is common knowledge that men love cars and everything to do with cars. We even overheard, men love movies with car chases, car bumps and car explosions. Though we can’t verify this information for you, but we do guarantee that cars are a man’s prized possessions. In today’s world, women are not far behind in any field. And women are equally known to love their cars too. Especially, if it’s your first car. It will always hold a special place in your life. So isn’t it obvious that protecting your most cherished asset should be your priority and responsibility? An auto insurance without adequate protection is as good as no protection at all. In this article we shall take a look at a few add-ons that you can choose to include in your policy and enjoy wider security.
In India, it is compulsory to have a Motor Vehicle Insurance for your vehicle as per the Motor Vehicles Act, 1988. Thus most people end up taking a basic cover, without scrutinizing the policy in detail. The purpose of any insurance policy is to step in with financial aid in your hour of need. Where a basic insurance policy may fulfil the mandatory legal requirement, it may not serve as useful when you need it.
Several general insurance companies in India offer comprehensive car insurance policies and provide adequate protection. The basic policy covers loss due to damage to car or theft of car, third party liability and a personal accident cover of owner or driver. We have prepared a comprehensive list of some add-ons that you can consider to include in your insurance policy.
If you are not adequately covered, you may end up spending a huge amount from your hard earned money. Your assets could also be at stake and may be future income is compromised too. On a positive note, cost of additional coverage on an existing policy is very low. After all it is better to be safe than sorry.
Our final word of caution, before investing in any policy it is always advisable to read the policy document carefully.
Be Wise. Stay Insured.
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