Getting insurance coverage has become an innate part of daily life since it ensures security and prepares you for uncertainties. A comprehensive insurance plan is hard to beat when it comes to extensive coverage for you and your vehicles.
Therefore, irrespective of whether you are looking for car or bike insurance, opting for comprehensive insurance can be a blessing in disguise. You can visit acko.com to explore comprehensive insurance plans for your car or bike and understand their benefits before purchasing.
Also, keep reading to know why this insurance plan has become a necessity in the modern day.
Reasons to Choose Comprehensive Insurance
A comprehensive insurance offers wider coverage compared to a third party insurance and standalone own damage insurance whenever an unfortunate incident takes place. Insuring your vehicle with this plan not only ensures financial security for you but also for third parties.
So, the following are reasons to choose a comprehensive plan:
-
Absolute Protection for Assets
Comprehensive insurance includes absolute protection of your assets by offering coverage for accidental damages, third-party liabilities, fire damages, theft, and natural and man-made disasters. No other insurance policy has as broad coverage as this.
-
Safeguards Against Financial Losses
Be it vehicle parts repairing or replacing, property damage or medical bills, a comprehensive plan significantly reduces out-of-pocket expenses of a policyholder.
-
Recommended by Experts
Insurance experts highly recommend a comprehensive policy because it offers full coverage during medical injuries and for vehicle damages, offering peace of mind.
-
Excellent for High Value Assets
Comprehensive policy is the best choice if you are looking to protect your expensive high-end car or bike. The policy will safeguard your assets from every angle.
-
Convenient to Customise
Depending on the value of your vehicle, it is normal to feel the need to enhance your policy. A comprehensive plan is flexible and easy to upgrade with add-ons like No Claim Bonus (NCB) protection cover, zero depreciation cover, etc.
-
Includes Legal Protection against Third-Party Liabilities
Owning a comprehensive plan enables you to get legal protection against third-party liabilities. So, you can fulfill your financial obligation towards the person who got hurt.
Myths Related to Comprehensive Insurance
There are multiple misconceptions and myths surrounding comprehensive insurance, which are as follows:
-
Comprehensive Insurance is Expensive
Even though at surface value, it might look like a comprehensive policy is expensive, in reality, it is not. The range of coverage it offers is beneficial in the long run. Consider it as a long term investment. Once invested, you will be able to enjoy the returns for the entire policy tenure.
-
Claim Settlement Process is Complex
Many people believe that since the coverage is so wide, the claim settlement process of a comprehensive plan must be complex. In reality, it purely depends on the insurer and their claim settlement process. If you are opting for a digitally available policy, the complexity of claim settlement reduces noticeably.
-
Policyholders Get Reimbursement Only for Repairing Their Vehicles
In recent years, most insurers have collaborated with repair garages. This way, whenever a policyholder goes to repair their vehicles in such garages, the repair charges are directly paid to the garages by the insurer. Policyholders do not have to put forth a single penny.
Therefore, the best way to avoid these types of myths is to talk to your policy provider and raise your concerns.
Final Thoughts
In essence, wide coverage, capability to protect higher value assets, flexibility to upgrade, and seamless claim settlement make comprehensive insurance a necessity. However, the premium charges might vary from one insurer to another. Therefore, make sure to talk to your insurer and go through the policy details before purchasing.