What is mean by comprehensive insurance?

What are the types of car insurance?

Six common car insurance coverage options are: auto liability coverage, uninsured and underinsured motorist coverage, comprehensive coverage, collision coverage, medical payments coverage and personal injury protection. Depending on where you live, some of these coverages are mandatory and some are optional.

What is comprehensive insurance vs third party?

In third-party car insurance, damage to the third-party vehicle and personal injuries and death of passengers is covered. But own damage cover is not available. In a comprehensive car insurance policy, both third-party damage and own damage cover are available, along with personal accident cover for the owner-driver.

Can I drive another car with comprehensive insurance?

Having fully comp insurance on your own vehicle doesn't mean that you're fully comp on someone else's. If your insurance provider does allow you to drive a different vehicle, it's likely that they will only provide third party cover as a maximum.

What does a comprehensive car insurance cover?

Comprehensive insurance, like the name suggests, is an insurance option that covers your car against accidents, fire, theft and other insured events, as well as claims from third parties, windscreen and glass repairs.

What is third party insurance?

What is third party car insurance? Third party car insurance is the minimum level of cover you can take out for your vehicle. The policy covers you if you injure a third party or damage their property while driving. This includes the passengers in your car and any injuries they may sustain.

Does comprehensive insurance cover breakdown?

While comprehensive cover may provide everything you need, bear in mind that there are additional features and benefits that may not be included with your policy including breakdown cover, legal cover or courtesy cars.

Which type of insurance is best for car?

Which is a better Car Insurance? Taking a comprehensive car insurance cover is always advisable as it provides complete protection of not only someone else's car like a Third-Party car insurance, but also the Own damages to your car, as well as any injury to the owner driver.

What is zero DEP in car insurance?

With zero depreciation coverage, the insured does not have to pay the depreciation value of the damaged or replaced parts and the policyholder can claim. It applies to vehicles that are less than 5 years old and the policyholder can avail of it twice during the policy tenure. Read more.

Is comprehensive insurance necessary?

Comprehensive Car Insurance offers extensive coverage that covers Third-party Liabilities and Own Damage. Buying this type of policy is not mandatory by law, however, due to its enhanced coverage, it is the preferred choice for many car owners.

What are the 3 main types of car insurance?

There are three levels of car insurance cover: Fully comprehensive. Third party. Third party, fire and theft.

What are the 3 main types of insurance?

Then we examine in greater detail the three most important types of insurance: property, liability, and life.

What are the 4 types of insurance?

How is IDV calculated on a car?

IDV is calculated as the manufacturer's listed selling price minus depreciation. The registration and insurance costs are excluded from IDV. The IDV of the accessories which are not factory fitted is calculated separately at extra cost if insurance is required for them.

Is painting covered in car insurance?

Various factors go into deciding whether you can or should claim insurance on your car body/paint repairs namely: Extent of damage: as a thumb rule, consider insurance claims only if repair and painting is needed for more than 2 body panels (or Rs 6000+ in repair charges)

Which insurance covers your car from accident damage?

Comprehensive car insurance policy

Comprehensive car insurance is the most extensive policy type and covers third-party liabilities as well as own damage costs, loss due to theft, natural disasters etc. You will receive the IDV or the total market value in case your vehicle is stolen or damaged beyond repair.

Does comprehensive cover third party?

Comprehensive car insurance - also known as fully comprehensive - covers damage to yourself, your car as well as compensating a third party if you are involved in an accident.

Which insurance is compulsory for car?

What is the Motor Vehicles Act? In India, as per the Motor Vehicles Act, it is mandatory that all vehicles that operate in any public space must have a motor vehicle insurance cover. Policyholders must have at least 'third party liability' motor insurance cover even when opting for the basic insurance plans.

Can I claim insurance if I damage my own car?

What Is an Own-Damage Car Insurance Claim? Under the comprehensive car insurance plan, a policyholder can claim insurance in case of third-party liability as well as damage caused to the insured car due to an accident.

What is 1st 2nd and 3rd party?

Remember, first party is the person self-attesting that he or she is competent. Second party is someone related to the person (trainer/instructor/employer) declaring that the person is competent. Third party would require an entirely independent party to declare the person competent.