on 20, Aug 2018

When you have a car, it is mandatory to have a car insurance. But what exactly are you paying for. Here we are sharing some basics of car insurances and showcasing the different types of insurance available for car.


Before getting into the detailed information, let's find out the different types of insurance available for Automobiles:

1) Comprehensive Car Insurance

2) Third Party Liability Insurance


1) Comprehensive Car Insurance:

Comprehensive car insurance is plan that not only insures everything related to the vehicle but it also protects the driver as well. In addition to this, the plan also insures the damage the car has suffered in an accident, in case the car has been robbed and it also covers the third party liability. Hence the Comprehensive Car Insurance policy is also known as Package Policy. This is the most important type of car insurance in the market.

Covers/ Benefits/ Advantages that are offered under Comprehensive Car Insurance Policy:

In case the car is damaged due to fire, this policy provides coverage for the damage. If the insured vehicle is damaged in case of any vandalism or if it is sabotaged, it will be all covered in the comprehensive type insurance. During a collision or an accident, damages occurred to the third party property will be covered.

Comprehensive type of insurance also provides coverage to the driver who is uninsured and even if he or she is is under insured. In addition to this, comprehensive type of insurance also helps to provide medical coverage to the driver as well as the other passengers travelling in the vehicle.


2) Third Party Liability Insurance:

The Indian government has made third party insurance mandatory for two wheelers and four wheelers for a span of 3 years and fiver years respectively. This type of insurance only helps the coverage of damages caused to another person, vehicle and property due to an accident. Here the major disadvantage is that the damages will be not covered for your own vehicle.


In addition to this, customers can choose from many add-ons for their car insurance which are available in the market.

i) No Claim Bonus Protection: NCB is type of discount on the premium offered by the insurance companies. Suppose the car owner hasn’t made a single claim during the tenure of its motor insurance policy, the No Claim Bonus Protection is calculated and the discount will be offered accordingly.


ii) Loss of Personal Belongings: If you opt for this package, you can report for a claim in case there is any theft or loss of your personal belongings which was kept in the locked vehicle.


iii)Zero Depreciation: This is a very useful and must add on package for your insurance policy, as everything on your vehicle is covered. Even the plastic and fibre parts is covered in this package. In short it provides full claim for the vehicle and also on the parts that have to be replaced due to an accident.


We at MyNewCar recommend our customers to get the Zero Depreciation insurance done as it is beneficial in the long run. For in depth information on car insurance you can visit Mynewcar Car Insurance page.


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