Why You Should Pay More for Comprehensive Insurance

Why You Should Pay More for Comprehensive Insurance

In today’s world, peace of mind is an essential respite to anyone’s life given the mounting stress, responsibilities, and lifestyle. When you are at peace, it shows on your face, in your work, and in your driving too.  This is where the insurance companies play an important role. Whether you are the proud owner of a car or a two-wheeler, third party insurance is a must in India.  Comprehensive insurance policy plans are found to be expensive than third party insurance. But there is a reason to it.

Why should you Pay More for Comprehensive Insurance

Let us understand why you should pay more for comprehensive insurance.

With the dilemma in mind with regards to third party insurance vs. comprehensive insurance, the following are the reasons you should have a comprehensive insurance:

Covers Third Party Damage and Losses

You must understand first what third party insurance covers. The third party insurance covers any damages to the third party incurred by you in an accident. The feature of covering the damages to the vehicle of the third party is important, as today to repair a tiny part of an automobile, you need to shed thousands from your pocket. Besides, if the third party’s two-wheeler is quite a valuable one, then you are gone for a toss if you do not hold such policies. However, in third party insurance policies, coverage is given to only third party and no coverage is provided against damages to your own vehicle. Comprehensive two-wheeler insurance covers damages to your own vehicle as well the third party liability even if it is your fault. It, therefore, stands out to be expensive and you pay more compared to third party insurance plans. It offers much more coverage than a typical third-party insurance plan.

Covers Policy Holders Damages too

As compared to comprehensive insurance plans, third party insurance does not offer any kind of protection to the actual policyholder. With comprehensive bike insurance, as a policyholder you are covered under natural calamities such as earthquake, cyclone, lightning, flood, fire etc. it also provides you protection against any loss or damage due to man-made calamities such as burglary, theft, curfew, riot, etc.

Option of Voluntary Deductible Plan

So basically comprehensive bike insurance goes much more than third party bike insurance coverage, which is why you pay more for comprehensive two-wheeler insurance plans. Under comprehensive bike insurance plans, there is a voluntary deductible amount which means in the case of a mishap or damages, you pay  a certain amount from your pocket as agreed upon, although this helps in lowering your premium but overall you do pay more. In third party bike insurance plans such options are not available.

Synopsis

Now if you understand, comprehensive bike insurance plan covers physical damage, theft and third party liability too. You ought to, therefore, pay more. On an accident, it is not always that the other party’s vehicle is damaged or passengers are injured, the loss could be policyholder’s too. Under these circumstances, you are at a loss as you have been paying for the third party and not for yourself. You, therefore, tend to pay out of your pockets, which is way too costly. This is why opt for comprehensive bike insurance plan to get a complete coverage.

No doubt comprehensive bike insurance is going to take those extra pennies but at the end of the day, peace of mind is what matters. With one policy, you are sorted and take no more tension. Drive free, drive safe and be a good driver. With the online portals available, getting the right policy is no big deal. Believe it or not, comprehensive bike insurance gives you the highest protection coverage.