You want to buy a comprehensive car policy for enhanced financial protection, but you are reluctant because of the myths and misconceptions surrounding this policy.
The following lines will uphold the truth behind different comprehensive car insurance myths so that you understand how financially beneficial it can be.
10 Comprehensive Car Insurance Misconceptions and the Truth Behind Them
Myth no. 1
Policyholders only get reimbursement for the expenses incurred.
Truth
While reimbursement was the only way of claiming compensation for financial losses in the past, today, the scenario has completely transformed.
Your damaged vehicle can now be repaired at an authorised garage without you having to pay any money. Your insurer pays directly to the garage, which is known as cashless repair.
Reliance General Insurance has a network of 10,000+ motor garages for cashless repair services.
Myth no. 2
Purchasing comprehensive car insurance is a time-consuming process.
Truth
Earlier, buying an insurance policy was a long and tedious process, but today, you can buy car insurance online without any hassle. You can go through the official websites of different insurers and provide some basic information to get a quote on your insurance plan's premium cost. Accordingly, you can select the policy that suits your requirements and budget.
Myth no. 3
No Claim Bonus is lost if a claim is filed.
Truth
Most policyholders think their hard-earned No Claim Bonus is lost if they make claims. That is not the case at Reliance General Insurance. Our No Claim Bonus protection cover allows you to enjoy NCB protection for up to two claims during the policy period.
Moreover, you can transfer your No Claim Bonus at the time of renewal to your new policy or another insurance company.
Myth no. 4
There is no way of recovering the total cost of a car, even in the case of comprehensive insurance.
Truth
If, for some reason, your insured vehicle is declared to be a total loss, or in case of theft, it is possible to receive the full price of the car in compensation, i.e., the on-road price of your vehicle and not just its Insured Declared Value (IDV). For this, you have to opt for our Return-to-invoice add-on rider to add to your comprehensive car insurance plan.
Myth no. 5
If the policyholder's car is being repaired for an extended period, then their vehicle's EMI will not be paid in due time.
Truth
The best thing about a comprehensive car insurance plan is that it comes with several functional add-on riders, especially at Reliance General Insurance.
With our EMI Protection Cover, your insured vehicle's car loan EMI will be paid for by our comprehensive car policy in case its repair work extends beyond 21 days. This way, your EMI will not be affected even if your insured vehicle is subject to lengthy repairs.
Myth no. 6
Comprehensive car policies are expensive, and their premiums must be more flexible.
Truth
One of the greatest myths about car insurance is that comprehensive policies are expensive. At Reliance General Insurance, we offer multiple discounts so that you can protect your car while adhering to the country's laws without burning a hole in your pocket.
With usable add-ons like
Pay-As-You-Drive Car Insurance, you can lower the premium cost even further by paying for only the kilometres you decide to drive.
Myth no. 7
Comprehensive car policies only offer a little coverage.
Truth
Our
comprehensive car insurance coverage goes beyond protecting your vehicle from natural calamities, theft, vandalism, in-transit damage or accidents. For extensive coverage, we offer add-ons for vehicles from rat bites or animal attacks, which can be a real problem for many policyholders.
Additionally, we provide coverage for car engines, keys, consumables, Nil Depreciation, etc., to ensure the value of your car is well-maintained throughout the policy period.
Myth no. 8
The process of settling claims for comprehensive car insurance is cumbersome.
Truth
On the contrary, the process of settling claims is easy and uncomplicated since most insurers today have digitised their claims processes.
Just register your claim for car insurance with us, either by calling our paid Helpline number (022-4890 3009) or by contacting us on the Reliance Self-i App. Also, the network garage you opt for can register the claim on your behalf through the Garage Portal.
Alternatively, you can claim reimbursement by providing us with the repair bills and receipts if you wish to get your vehicle repaired ta a non-network garage.
Also Read:
Documents Required to file a Motor Insurance Claims
Myth no. 9
Old cars need only third-party car insurance.
Truth
Old cars need more financial protection, as their functionality tends to reduce over the years. The chances of your old vehicle getting involved in an accident or being susceptible to damage are high.
Comparing the need for comprehensive insurance with third-party insurance for your old car is not right, as these two policies differ greatly from one another. However, it is also true that a comprehensive plan like ours that comes with multiple add-on options can effectively protect older vehicles.
Myth no. 10
Insurance covers accident cases only if the insured is not at fault.
Truth
The truth is that the insurer provides financial compensation for all claims, provided the policyholder owns a valid driving licence, hasn't violated any policy terms or broken any laws. As long as the claim is filed under the policy's terms, it will be evaluated for settlement.
Conclusion
The benefits of
comprehensive car insurance for you and your vehicle listed above should be convincing enough for you to start comparing quotes online. Not only will car insurance protect you financially from third-party liabilities, but it will also effectively safeguard your own vehicle and you from expenses arising from car damage or physical injuries due to accidents and other scenarios mentioned above.
At Reliance General Insurance, we have thoughtfully curated our comprehensive car insurance plan by including a variety of functional add-ons and several discount options, including discounts on renewal, No Claim Bonus, premium cost, and more.
For more information on our
car insurance policies and associated benefits, you can check out our official website.
Frequently Asked Questions
How comprehensive should my car insurance plan be?
The answer to this question depends on how well you want to secure your vehicle from financial threats. Also, you have to decide your budget so that the plan, while fulfilling your requirements, does not surpass your budget.
Am I legally compliant if I own only comprehensive insurance for my car?
Yes, since a comprehensive plan bundles third-party and own damage coverage under one plan, you would still be legally compliant by only opting for a comprehensive car plan.