How to Protect your Private Vehicles

How to Protect your Private Vehicles
July 20 09:18 2018 Print This Article

You may be driving four-wheelers or two-wheeler. The important thing is they should be covered in the Insurance. All the private or commercial vehicles are covered as part of Motor Insurance. There is an increasing need for Motor Insurance. This is due to many reasons. With the growing GDP many people are using private vehicles such as a car or bike. With the increase in usage of the vehicle, there is a great requirement of protecting it against all possible risks. While we purchase car or bike by adding some amount we like to accessorize it as well. Also, there are lots of add-on features that we would like to have. All these factors make Insurance even more important.

What is Motor Insurance and how it can protect our Car and bikes?

Motor Insurance is a comprehensive term used to cover almost all modes of road transports. These vehicles can be commercial or private. There are many convenyance covered as per motor Insurance Some of them are like car, bikes, mopeds,  scooters, trucks, buses etc. Private vehicles are further categorized in Four-Wheelers and Two-Wheelers. Most common private mode of transports are Car and bikes. With increasing traffic, there is a great need to protect both of them against any unexpected risk. It can be easily done with the help of suitable Motor Insurance.

Types of Motor Insurance

Based on the vehicle covered there are many types of Motor Insurance. Some of them are as follows:-

  • Car Insurance
  • Two-Wheeler Insurance
  • Commercial Insurance

These Insurance are differentiated based on the vehicles. Usually, an individual can possess either a car or a two-wheeler. We may have different Insurance policies for both Cars as well as a bike. We can also renew two wheeler insurance online and same can be done for your car.

Types of Car & Bike Insurance

Irrespective of car we drive we can take various types of Insurance. In the category of two-wheelers like bikes, scooters also we can have many kinds of Insurance.

These are as follows.

Sno Insurance Types
1 Comprehensive Insurance
2 Third Party Cover
3 Zero Depreciation Cover
4 Theft Cover
5 Add-on’s

Comprehensive Insurance Plans

It covers all the risks associated with our vehicles car or bikes. Risks can include anything from accidents to third party damage. What we need to do is pay the required premium amount and buy the policy.

Third Party Cover

Third party cover includes any cost incurred in damage of another car at the time of an accident.

Zero Depreciation Cover

One of the challenges for any vehicle is a loss in efficiency. It can happen because of growing age. It can be covered using zero depreciation cover. With the help of this policy, we can protect our vehicle against depreciation for sure.

Theft Cover

By adding theft cover to our policy we can protect our vehicle against any loss due to theft. With this policy, we can park our car or bike without must stress about its loss. As the entire amount is covered by the Insurance.

Add-on’s

There are many Insurance companies, providing many kinds of add-on facility. These add-ons can be many. Few of them can be getting garage services, engine cover. Also, it can include key replacement; lock change, luggage loss. At times it can also cover hotel charges at times of breakdown. Likewise, there can be many more add-ons based on the Insurance company choosen.

Some companies with the add-on’s are shown below.

Insurance Policy Add-ons
Tata AIG Car Insurance Transportation & Hotel expenditures during breakdowns. key replacement, Depreciation cover also included.
Royal Sundaram Car Insurance Glass damage, windshield loss is included. Voluntary deductible, Spare car during breakdown covered as well. Zero depreciation facility is another add-on.
Bajaj Allianz Car Insurance Loss of any of personal baggage during vehicle theft is covered. It’s active 24*7 customer care is quite efficient. Special engine protection cover is also part of its add-on.
Bharati Axa Car Insurance The hydrostatic lock is best and unique add-on of this policy. Car breakdown support, Gearbox damage are also included.
Reliance  Car Insurance Benefits in this add-on are towing services, road tax; depreciation cover etc. However, the best advantage is the provision of NCB(No Claim Bonus ) even after taking claim.

Terminology; features & benefits of Motor Insurance

Most of these Motor Insurance offers one benefits or other. There are certain common terms used for car or bike insured. They are very important to understand before buying an Insurance policy.

These terms are as follows:-

IDV (Insurance Declared Value) – This is the maximum amount we can claim at the time of our car or bike damage.

NCB (Non-Claim Bonus) – This is discount that we can get after no claim year. Usually, it gets accumulated every year. In order to avail the same, we must avoid small claims less than Rs. 10,000.  As while doing so discount that we may get another year can be greatly impacted.

Depreciation Cover – By covering our vehicle for Insurance we can protect our vehicle against any depreciation loss as well.

Cover against any Theft – We can take additional cover to protect our vehicle against any theft or natural calamity.

Garage facility – Many Car and bike Insurance companies provide a number of garages for smooth services. We can use any of them for the cashless facility. While buying Motor insurance we can always check the number of the garages they cover for services.

Before buying any Motor Insurance its good to check their premium. It can help in deciding from where to buy. Before that, we must know how to calculate the premium for both bikes as well as the car. You can compare car insurance premium online at PolicyX to choose the best plan according to your needs.

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Jacques Jeanlouis
Jacques Jeanlouis

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