Comprehensive Motor Insurance has become an essential asset for doctors in today’s fast-paced world, where roads are bustling with traffic and uncertainties bursting. Although it’s not compulsory, this policy is highly recommended for the peerless peace of mind it provides. Comprehensive coverage extends beyond basic protection, covering both the driver and their vehicle against a wide array of risks. For professionals like doctors, who lead demanding lives and drive through diverse environments daily. This policy serves as a lifeline, ensuring their property and well-being are protected. With natural disasters and human-induced incidents threatening our driving experiences, comprehensive vehicle insurance emerges as a crucial policy for maintaining a smooth and worry-free journey.
Types of Vehicle Insurance
Vehicle insurance typically falls into two categories:
- Third-Party Motor Insurance: This insurance is mandatory for all vehicles, as required by the Insurance Regulatory and Development Authority of India (IRDAI). When purchasing a new vehicle, you must obtain multi-year third-party insurance, three years for cars and five years for two-wheelers. While this coverage is essential, it only provides basic protection.
What Third-Party Insurance Covers:
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Third-Party Injuries and Property Damage:
If a third party is injured or their property is damaged, you are responsible for the accident involving your vehicle. This insurance covers the costs. In the case of a death, compensation is determined by the court, taking into account the victim’s family background, dependents, and income.
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Property Damage Coverage:
For cars, property damage is covered up to ₹7.5 lakhs, while two-wheelers are covered up to ₹1 lakh.
What Third-Party Insurance Does Not Cover
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Own Vehicle Damage or Theft:
This policy does not cover damage to your own vehicle or theft due to accidents or natural calamities.
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Illegal Activities:
Accidents resulting from drunk driving, underage driving, driving without a valid license, or using a non-commercial vehicle for commercial purposes are not covered.
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Comprehensive Motor Insurance
Comprehensive motor insurance, also known as package policy insurance or first-party insurance, offers more extensive coverage than third-party insurance. While not mandatory, it is highly popular because it covers both your own damages and third-party liabilities.
What Comprehensive Insurance Covers:
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Extensive Damage Coverage:
This policy covers damage to your vehicle from accidents, fire, explosions, theft, and natural or man-made disasters, along with third-party liabilities.
- Parts Coverage: Various parts of the vehicle are covered, including tires (50%), tubes (50%), fiberglass (70%), glass (100%), plastic (50%), nylon (50%), rubber (50%), battery (50%), airbag (50%), denting and painting (50%), and metal parts, as per the car’s age.
What Comprehensive Insurance Does Not Cover:
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Wear and Tear:
Normal wear and tear or aging of the vehicle is not covered.
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Illegal Activities:
Driving under the influence of alcohol or drugs, without a valid license, or causing damages outside the defined geographical area, is not covered by us.
CoverYou’s Comprehensive Vehicle Insurance
CoverYou, India’s largest insurance broker for doctors, backed by over 75 medical associations and consulting more than 500,000+ doctors across the nation. Our comprehensive vehicle insurance, apart from discounted premiums, offers also a range of benefits and special add-ons for up to 10 years. With 24/7 in-house claim settlement services and a network of 10,000+ garages across PAN India. We ensure our doctors receive top-tier service wherever you are. Our comprehensive vehicle insurance includes a variety of valuable add-ons designed specifically for doctors:
- Zero Depreciation: We offer zero depreciation coverage for vehicles up to 10 years old, ensuring bumper-to-bumper protection. All parts are covered at 100%, except for tires, tubes, and batteries, which are covered at 50%.
- Cost of Consumables: This add-on covers all consumables except fuel. Including engine oil, gearbox oil, oil filters, power steering oil, and more.
- Roadside Assistance: Doctors receive roadside assistance, including on-the-spot trained technicians, emergency fuel arrangements, towing services, accommodation arrangements, and more.
- Invoice Cover: If your car is stolen or completely damaged. This add-on ensures you receive the invoice price of your vehicle.
- Loss of Personal Belongings: This benefit covers the loss of personal belongings in your car as per their invoice value.
- Passenger Cover: In the unfortunate event of a personal accident. This add-on provides coverage for passengers in case of death or permanent/semi-permanent disability.
In addition to these add-ons, CoverYou offers a multitude of other benefits for your vehicle insurance such as Key Protection, Accessories Cover, Paid Driver Cover, Rodent Cover, etc., ensuring comprehensive protection and peace of mind.
Safety For Our White-Coat Guardians
In their relentless service to the nation, doctors are the indefatigable shield for society, whether during natural disasters or man-made crises, day or night. Their dedication often demands long hours, leaving their vehicles parked for extended periods, exposed to potential damage or theft. Recognizing these challenges, we at CoverYou have stepped up to protect our Health healer’s valuable assets, allowing them to focus on healing the nation with peace of mind.
