Why the term ‘best car insurance policy for you’ is very subjective
You just bought a new car and are enjoying a long drive with your loved ones; however, the thoughts of an unprecedented mishap are disturbing your peace of mind. In such times, rather than depending on your luck, you should protect your car with an insurance policy. Now, even if you have decided to purchase an insurance policy, the doubt as to which is the best one still lingers your mind
We all want to find the best car insurance policy available in the market; however, this term itself is pretty subjective- because, one insurance policy might prove to be more beneficial for you than the other one. Thus, today in this article, we will be highlighting 5 important factors that will prove the fact that the term, ‘best car insurance policy for you’ is subjective:
Choice of cover: The two major types of insurance policies available in the market are third-party insurance and comprehensive cover. The third-party cover is your basic type of insurance policy which covers all the damage caused by you to the third-party. Thus, all the financial, legal, as well as bodily damages are covered under the third-party cover. However, the damages caused to your car aren’t covered by the third-party cover. Thus, if you want to ensure yours as well as the third-party’s safety then you should opt for a comprehensive cover.
This insurance covers all the damage caused to you as well as the third-party. However, the only difference between them other than the coverage provided for your car is the cost of the insurance policy. The thirdparty cover is way cheaper than the comprehensive insurance policy; however when you compare them than it is crystal clear that opting for a comprehensive insurance is the safest and the most viable option. Yet, one person might opt for a third-party cover while the other might choose a much safer comprehensive insurance- because different people have multiple priorities.
Type of add-on: Other than the basic third party car insurance and comprehensive cover, the companies have also started providing a number of add-ons. These add-ons are the extra protection that will further help you avert any unwanted damage and ensure complete safety of your vehicle. Because, many-a-time, there are numbers of damages which are not even covered under the more expensive and lucrative comprehensive cover. In such times, rather than burning a hole down your pocket, it is better to pay that extra premium amount for an add-on. Different insurance companies provide multiple types of add-ons.
The different types of add-ons available in the market are your zero depreciation cover, personal accident cover, engine protection cover, return to invoice cover, key replacement cover, and so on. However, even if the insurance company has a wide array of choices for you to choose from, yet you will only buy the one which suits your needs. For e.g., If you live in an area that faces the problem of water-logging than you will opt for an engine protection cover and not a keyreplacement add-on.
Thus, the choice of car insurance policies varies from one person to another. Thus, the policy that might prove to be the best one for you might not be as good for the other person.
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