Car insurance is compulsory in India and that's why most people do not pay much attention to the particulars of the car insurance. They keep themselves from moving through the policy documents and just renew the policy as per the due date. A vehicle insurance policy comes with numerous benefits and flexibility which can do wonders for your car insurance policy. But to take advantage of such advantages of your car insurance, you ought to be fully aware of these, otherwise, you will be left having a strategy which will prove to be useless when you may require it the most.

10 Things You didn't know about Car Insurance

1. Transport of No Claim Bonus (NCB)

The majority of the people are not aware of the transfer of NCB whilst changing the insurance company. If you have any accumulated NCB with your present insurance company, then while changing to a new insurer, you can transfer that collected NCB to the new insurance company. An identical thing can be achieved while changing the car too. Your gathered NCB of your old car can easily be transferred to a new car.

2. Renewal of Expired Policy

In these 90 days, it is easy to renew your expired vehicle insurance policy without sacrificing any benefit. Your gathered NCB may also be carried forward following renewal.

3. Cover for Towing Charge

Driving on highways and remote areas entails the hassle of not being able to find a garage or mechanic in the event of an accident. And even if you find one, the mechanic bill high sum for towing your vehicle if you couldn't drive it into the garage. Such charges can burn off a deep hole in your pocket. But as a result of the car insurance policy which covers towing fees up to a limit. To understand the terms and conditions of cover for towing charges on your coverage and get profited from it.

Car Insurance


4. Numerous walkers Affect Your Premium

Motor insurance businesses pick the premium amount in line with the risk and numerous drivers for one car increase the possibility of injury and maintenance. That's why car insurance companies charge a high premium if multiple drivers are driving a single car. So it's better to let just one person drive the car.

5. Cover for the Accessories Fitted at Car

Standard car insurance covers the damage for your car just, not for the accessories fitted in the car. But you get the choice to cover your accessories fitted at the car by deciding on a separate add on which is specially designed for accessories. Such developments to your policy raise the premium price, but it is still more cost-effective than installing a brand new accessory after damage.

6. Zero Depreciation Cover

The sum assured received upon maintaining vehicle insurance is always deducted from the depreciation rate of the car. However, you can stay away from such deduction from your claim amount by opting for a zero depreciation cover which permits the policyholder to acquire the actual sum assured with no deduction due to depreciation.

7. Cover to the Engine

You can opt for an add on cover for your engine under your vehicle insurance policy that takes care of these motor-related repairs which aren't caused due to accident. This cover is very much useful in case of damage to the motor due to flood which can burn a deep hole in your pocket.

8. Cover for personal use and Business usage is Different

The pay for your car insurance is contingent on the use of the car. If you're using your car for industrial purposes, then it's advisable to go for commercial vehicle insurance otherwise go for a comprehensive car insurance policy if you are using your car for private purposes.

9. Comprehensive Car Insurance Policy doesn't Cover Everything

Buying a comprehensive car insurance policy expands your area of coverage but it doesn't indicate that it covers everything. There are some exclusions and limitations of the comprehensive car insurance policy also which are obviously mentioned in the coverage details. So it is very much essential to go through the policy details before buying.

10. Key Replacement

In case you have dropped your ignition key, then you don't need to worry as most of the car insurance companies reimburse the cost of a new key.

So go through the coverage details of your vehicle insurance policy so you could avail maximum advantage from it. A car insurance policy has a lot to offer, it all depends on you if you want to access them by knowing your policy or miss them due to unawareness.