Buy Car Insurance For Your Brother On This Bhai Dooj

Posted on: Oct 19, 2022 | | Written by:

Buy Car Insurance For Your Brother On This Bhai Dooj

Published on October 14, 2022. EST READ TIME: 3 minutes

Buy Car Insurance for Your Brother This Bhai Dooj

The festive season continues. And it can be a bit overwhelming to decide on a gift for your loved ones. If you are wondering about gifting something meaningful for your brother during this Bhai Dooj, there is something very interesting that you can gift him. A car insurance plan can be an unconventional yet thoughtful gift for your brother this festive season. Here is all that you need to know before buying one.

What Is A Car Insurance Plan?

A car insurance plan is simply an insurance plan for your car. The plan safeguards you and your car against all unforeseen events. It offers financial protection against accidents of any type. The accident can be with another vehicle or any object or property. The policy covers damages due to theft, burglary, fire, etc. as well.

Buying comprehensive car insurance will protect your car against third party liabilities, which can arise due to accidents involving other vehicles, properties, or individuals. The plan also offers protection against all issues as well such as natural calamities and man-made calamities.

There are different types of insurance plans available for policyholders. Depending on your needs and requirements, you can choose any one of them.

The Motor Vehicles Act of India also mandates all vehicle owners to have insurance. Thus, it is essential to buy an insurance plan for your car.

Why Car Insurance Plan Is Beneficial?

Buying an insurance plan will offer you the needed legal clearance to drive your vehicle on public roads. However, the benefits of the policy are not limited to just offering legal clearance. Here are some of the other benefits that you get access to when you buy a car insurance plan.

1. Personal Accident Cover

A perk of buying an insurance policy for your car is that it offers personal accident coverage as well. The cover is available for a pre-determined amount and you can opt for it as optional coverage. This cover ensures that you or your loved ones receive compensation for the death of the policyholder or total permanent disability. Also, you can extend the coverage to other unnamed passengers of the vehicle. This is available for the maximum seating capacity of the vehicle.

2. Damage or Loss

The prime objective of the policy is to offer your financial protection against several unforeseen events. If your vehicle catches fire or meets with an accident that results in a lot of damage, the policy will have your back.

If your car suffers damages due to burglary or theft or vandalism, you can use the policy for repairs. The same also holds if your car is at the receiving end of damages due to natural calamities such as cyclones, typhoons, earthquakes, etc.

The plan also covers any damages that your car might receive during transit, either by road, railway, or air.

3. Third Party Liability

During an accident that involves other individuals or vehicles, you will end up paying for the repairs or damages from your pockets. Not if you have a car insurance plan. The plan will compensate for all the damages or injuries arising out of the accident. More importantly, it will also offer financial assistance for legal liabilities that arise in such situations.

4. Network Garages

Most insurance companies have tie-ups with several garages where you can get your vehicle repaired. These garages are also known as network garages. If you decide to repair your vehicle in any of these, your insurance provider will directly settle the bill with the garage. Thereby eliminating the need for you to pay anything from your pockets for the repairs. Before you buy a policy, it might be worth looking at the list of network garages in and around your house.

5. NCB

It is a highly possible scenario where you might not claim your policy during its term. To reward such drivers, insurance companies offer NCB or No Claim Bonus. For every year that you do not claim your policy, you stand to receive a discount. This is applicable when you renew your policy in the upcoming years.

The discount usually starts at 20% for the first year and you can accumulate up to 50% for five consecutive years. It is an effective way of reducing your policy premiums.

Why You Should Gift Car Insurance

Bhai Dooj is an auspicious festival that marks the bond between brothers and sisters. Sisters pray for the well-being and safety of their brothers during the festival. And what better way to ensure safety for your brother than buying a car insurance plan for him? The gift is a bit unconventional and thus can be a good surprise as well. Buying the policy shows how much you care about the safety of your brother. Renewing the policy on his behalf will make sure that he continues to receive the benefits of the plan. Should you decide to buy a policy for his car, the following section will help you decide which plan would be ideal.

Third Party Or Comprehensive Car Insurance: How To Select?

When you decide to buy insurance for your car, two prominent ones will always pop up, a third party car insurance and a comprehensive car insurance. Here are some brief details about both policies, which will help you decide more efficiently.

Third Party Car Insurance

This policy ensures that you do not have to pay for any damages or injuries that involve any other individual or property. It includes coverage for death or injuries to individuals, damages to properties and vehicles, and offers personal accident cover. Since the plan offers minimal coverage, the premiums are also a bit on the lower side. And you do not have the option to opt for add-ons along with this plan.

Comprehensive Insurance

As the name suggests, it offers better coverage for your car. Apart from the coverage of a third party plan, it also covers damages to your vehicle. In insurance jargon, it covers its own damages as well. Thus, you can claim the policy for a far wider range of accidents and even if the damages are on your car.

You can opt for add-ons by paying a small premium, which can greatly enhance the capabilities of your policy.

You must consider the coverage of the policy along with the policy premium and some discounts that are available to decide which of the above two makes more sense.

Conclusion

You can make this Bhai Dooj a lot more special for your brother by gifting him a car insurance plan. It can be a very thoughtful and practical gift, that will surely make him happy. The gift not only shows that you care for them but that you always want their safety as well. You can use the above information to buy a policy, during this Bhai Dooj.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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