People often purchase car insurance policy because it is mandatory, without actually knowing the policy in-depth. Thus, most policy buyers remain unaware of the policy’s critical features and the benefits it provides. To help you gain a deeper understanding of your car insurance document and enable you to maximize the benefits, we have listed here the ten things you didn’t know your car insurance covered.
Paperless documentation and instant renewal: Gone are the days when you had to go through the lengthy procedure at your insurance provider’s office to renew the car insurance policy. Car insurance policy provider these days offers customers the option to renew their policy in no time with zero or minimal documentation through online channels.
Coverage for losses beyond accidents:
Many car insurance policies cover more than just vehicular damages caused due to accidents. While third-party liability policies only cover damage caused due to a third-party or their property or assets, comprehensive car insurance plans offer wide coverage to policyholders. Most comprehensive car insurance policies cover damages caused to the car due to burglary, theft, housebreaking, fire, self-ignition, explosion, terrorism, strikes, malicious acts, riots, natural calamities, etc., the damage caused by accidents. If any damage is caused to your vehicle during transit by waterway, rail, road, the damage will be covered by your car insurance policy in most cases.
Free-of-cost on-road towing service:
If you drive your car during odd hours of the day, you would know how inconvenient it is to have your car breakdown all of a sudden. Most car insurance providers usually provide free towing service up to a certain distance. So, the next time your car breaks down, contact your insurance provider and check if you are eligible to avail of free service.
ARAI membership discount:
Most car insurance providers provide additional discounts to individuals who are members of India’s Automotive Research Association. You can avail a discount of 5% if you are an ARAI member, in most cases. If you are not a member of ARAI, but you have installed anti-theft devices that ARAI has approved, then you are eligible to avail of further discounts.
No-claims bonus protection cover:
If you don’t make any claim during a policy year, you will be eligible for a no-claim bonus from the insurer. The no-claim bonus can give you a significant reduction in the premium payable. After considering the difference the no-claim bonus can make to your premium rates, both car and two-wheeler insurance providers offer a no-claim bonus protection cover as an add-on to the policy buyers.
The cashless facility at network garage:
Nowadays, car insurance companies allow policyholders to get their vehicle serviced or repaired at cashless garages that are a part of their network. Thus, before purchasing an insurance policy, always check whether your insurer provides a cashless facility.