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1st vs 3rd

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Insurance is need, not luxury. You need insurance...


1st Party (comprehensive) cover VS 3rd Party Only cover

comparision

What is the Difference Between Comprehensive and Third Party Insurance?

The main difference between third-party and comprehensive insurance is the kind of coverage it offers. While a Third-Party insurance only covers you against third-party damages and losses, a comprehensive car insurance will cover for your own damages as well.  

To protect you from both hefty fines and damages and losses that could arise due to mishaps both big and small such as accidents, collisions, floods, theft, et al, it’s important to understand the difference between a comprehensive car insurance and third party car insurance .

What is Comprehensive Car Insurance?

A comprehensive car insurance is one of the most preferred types of car insurance policies, as it covers for not only third-party liabilities and losses but, also covers for damages caused to you and your own car.  

Benefits of Buying a Comprehensive Car Insurance
1. Covers for Your Car’s Damages

The primary benefit of getting a comprehensive car insurance is, it protects your car from any unfortunate damages and losses due to accidents, collisions, fires, etc.

This way, you don’t only save on unforeseen expenses but, also ensure your car will stay in good shape, even in the case of a mishap.

2. Protects your Pocket from Third-Party Liabilities

One of the main reasons people get any type of car insurance, is to comply with the law and, protect themselves from losses in case of any third-party damages.

What’s great about a comprehensive car insurance is, that while protecting you and your car, it also protects you from losses in case you damage a third-party person or property.  

3. You can Customize your IDV

We believe you know your car the best. That’s why, while buying a comprehensive car insurance online, we give you the option to customize your IDV, i.e the market value of your car. This will directly then affect your premium and claim amounts.

4. Opt for Add-Ons for Better Coverage

Most people prefer a comprehensive car insurance because you can customize your policy just the way you want, by picking add-ons to extend the kind of coverage your car can receive.

Some of these add-ons include the return to invoice cover, engine and gearbox protection and, consumables cover amongst others.  

5. Cost Effective

Although the premium of a comprehensive car insurance is higher than that of a third-party car insurance, it still turns out to be a lot more cost effective since the coverage and benefits you receive with a comprehensive car insurance is a lot higher, saving you a lot of money in the long run!  

6. Protects your Car During Natural Disasters

Nobody can control nature’s many furies. But, with a comprehensive car insurance you can at least protect your car from any damages that are caused due to the same.

So, whether your car is damaged due to a flood, cyclone or earthquake- your car will be protected through it all.  

7. Compensates you in case of Car Theft

Car thefts are the worst! Within minutes you can lose out on one of your most prized possessions.

Thankfully though, a comprehensive car insurance can help you in this case by compensating for the loss of the same.  

8. You Can opt for Breakdown Assistance

A Breakdown Assistance is one of the many add-ons available in a comprehensive car insurance. But, what makes this add-on special is that it never counts a claim.

So, whether you’re stuck midway or are having a little breakdown, we’ll just be a ring away and it won’t even count as a claim!  

9. Avoid Depreciation with Zero Dep Cover

Everything loses value over time. But, if you’ve opted for a zero-depreciation cover in your comprehensive car insurance, you can keep your car as good as new.

This basically means, you can avoid the depreciation on its parts and therefore get more money during claims due to the same! Sounds great, doesn’t it?

Exclusions in a Comprehensive Car Insurance
1. Driving Drunk

Any claims made in a situation where you were driving under the influence of alchohol won’t be covered even in a comprehensive car insurance.

2. Driving without a License
As per the law, your claims won’t be covered for if you were driving without a valid driver’s license.  

3. Driving without a valid License Holder

As per the law, we can’t cover for you if you were driving with a learner’s license, without a valid license holder in the front passenger seat.

4. Consequential Damages

Consequential damages are those that take place after the accident. Unless covered for in an add-on, such damages can’t be covered for even in your comprehensive car insurance.

5. Contributory Negligence

To simply put it, don’t do things you aren’t supposed to!  For example; if there are floods in your city, don’t take the risk and take your car out. Listen to your manufacturer’s manual cause such negligences can’t be covered for in your comprehensive car insurance too.  

6. Add-ons Not Bought

This is pretty obvious, isn’t it?  In case you haven’t bought a particular add-on while buying your comprehensive car insurance, you can’t claim for its benefits!

What is a Third Party Car Insurance?

If you’re not going for a comprehensive car insurance policy, a third-party car insurance is the most basic, and legal form of car insurance policy you will need. As the name suggests, this will only protect you from damages and losses caused to a third-party and won’t cover for your own damages.
Benefits of Buying a Third-Party Car Insurance

1. Covers for Third-Party Liabilities

The main purpose of a Third-Party car insurance is to cover you from losses and damages caused to a third-party due to your own car. So, this includes situations such as if you bump into a car or damage one’s personal property. In such cases, your third-party car insurance will cover for the losses incurred.

2. Helps you Drive Legally on Indian Roads

As per the Motor Vehicles Act, every car needs to at least have a third-party car insurance to drive legally on Indian roads.  

3. Protects your Pocket from Traffic Fines

Since at least having a third-party car insurance is mandatory by law, not having one can lead you to pay hefty penalty fines. Therefore, having a third-party car insurance can protect your pocket from spending on traffic fines!  

Exclusions in a Third-Party Car Insurance

1. Own Damages

As the name suggests, a third-party car insurance will only cover for third-party related liabilities and damages to one’s own car won’t be covered under this policy.

2. Drunk Driving or Without a Driver’s License

A third-party car insurance won’t cover for your third-party claims if you were found driving under the influence of alcohol, or without a valid driver’s license.

3. Driving without a valid Driving License holder

If you hold a learner’s license and were driving without a valid driving license-holder in the front passenger seat - then your claim in those situations won’t be covered. 

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