When you are buying a car insurance policy, you will come across multiple options and products. But you must purchase car insurance coverage that suits your requirements well. You can select an insurance policy that is vehicle specific, driver-specific and also third party specific. The more the coverage provided by the insurance policy, the more the premium. Thus, it is recommended, to purchase a car insurance plan according to your requirements.
Comprehensive Coverage:
Comprehensive coverage is the best coverage that you can get from car insurance. It covers all kinds of risks associated with the vehicle, driver, passengers, third party driver, third party passengers and property as well.
‘If there is any damage caused to your car due to extreme conditions like weather damage, floods, fire or theft, then the comprehensive car insurance will save you from the heavy expenditure. Comprehensive coverage is expensive and can be selected as per your budget. You can decrease the premium of comprehensive coverage by installing anti-theft devices.
Personal Injury Coverage:
Personal injury coverage will cover all the costs associated with the accident. The medical expenses of drivers as well as passengers are covered, under personal coverage. Under this coverage, it does not matter if it is the fault of the third party or driver. The company will pay the bills irrespective of who’s a fault.
So buying a personal injury cover for the vehicle owner, driver and passengers is a great deal as you can make the most of your investment.
Liability Coverage:
This type of coverage can save you when you are involved in an accident and become liable to the third party because of your fault or negligence. This covers the repair or the replacement cost of the property of the third party and the medical bills of the third party due to hospitalization.
All in all, the liability coverage includes third-party injury, damage and death to the third party property.
Collision Coverage:
If you opt for car insurance with collision coverage, then it is the insurance company that will bear the expenses of the repair of your car when you meet with an accident. There is a chance that the cost of repairs for your car will exceed the current market value of the vehicle. The insurance company will pay the current market value of the vehicle. Always consider the age of your car before you purchase collision coverage.
While buying a new car, make sure that collision coverage is stated in the insurance policy. For old vehicles, the collision coverage can be as low as possible.
If you want a car insurance policy for your vehicle, you can purchase it from Future Generali. We offer various coverage options for you to select.