Mumbai, Maharashtra, India: Zurich Kotak General Insurance highlights the key risks covered under
comprehensive car insurance. As per the Motor Vehicles Act, 1988,
third-party car insurance is mandatory. However, comprehensive car insurance provides financial protection
against accidents, theft, and natural calamities while also covering
third-party liability. Choosing the right coverage requires careful
consideration while many people make mistakes while buying car
insurance.
While third-party car
insurance is mandatory, a comprehensive policy provides broader financial
protection, helping policyholders manage unforeseen circumstances effectively.
Many vehicle owners make mistakes while purchasing insurance, often overlooking
critical coverage aspects. Zurich Kotak General Insurance aims to educate car
owners on the key benefits of a well-rounded policy.
Comprehensive Car Insurance: Key Coverage Areas
Accidental Damages Coverage
Road accidents are a
common occurrence, and even the most cautious drivers can face unexpected
collisions. Whether it is a minor dent or major damage, repairing a vehicle can
be expensive. Comprehensive car insurance covers the cost of repairs, ensuring that
policyholders do not have to bear the financial burden.
What is covered?
·
Damage caused by collisions with other vehicles
·
Accidents involving stationary objects such as poles or walls
·
Scratches and dents resulting from minor mishaps
·
Major structural damage requiring part replacement
Having comprehensive
coverage ensures that you can get your car repaired without incurring high
out-of-pocket expenses.
Protection Against Car Theft
Car theft is a major
concern, especially in urban areas where the risk is higher. Losing a vehicle
to theft can be financially devastating, particularly if the car is new or
expensive.
With comprehensive car
insurance by Zurich Kotak General Insurance, you are financially protected if
your car is stolen. If law enforcement authorities are unable to recover the
vehicle, the insurer will compensate the owner based on the Insured Declared
Value (IDV) of the car.
What is covered?
·
Complete vehicle theft
·
Break-in and burglary-related damages
For additional
security, car owners should park in well-lit areas and use anti-theft devices.
Fire and Explosion Damage
Fires can occur due to
various reasons, including electrical malfunctions, fuel leaks, or external
factors like arson or riots. The resulting damage can be extensive, leading to
complete loss of the vehicle.
Comprehensive car
insurance covers damage caused by fire, explosion, and self-ignition, ensuring
financial protection against such unforeseen incidents.
What is covered?
·
Fires caused by electrical short circuits
·
Explosions due to fuel leakage
·
Damage resulting from fire outbreaks during riots or strikes
Regular vehicle
maintenance can help reduce the risk of electrical failures and fire-related
incidents.
Natural Disaster Coverage
Natural calamities are
unpredictable and can cause severe damage to vehicles. Events such as floods,
earthquakes, and storms can leave a car completely unusable. Comprehensive car
insurance covers natural disasters, ensuring that policyholders are not left
with hefty repair bills.
What is covered?
·
Flood and water damage
·
Earthquakes and landslides
·
Cyclones, hurricanes, and storms
·
Snow and hailstorm damage
Car owners in
flood-prone areas should consider adding an engine protect cover for additional
security against water-induced engine damage
Coverage Against Man-Made events
Instances of riots,
strikes, and vandalism can result in serious damage to vehicles. Whether it is
intentional destruction or collateral damage during civil unrest, the cost of
repairs can be high.
Comprehensive car
insurance provides coverage for damages caused by man-made disturbances,
ensuring that your vehicle remains financially protected.
What is covered?
·
Damage due to riots and strikes
·
Losses caused by malicious acts
·
Damage resulting from terrorism-related incidents
To minimize risks,
parking in secure areas is always advisable.
Third-Party Liability Coverage
Accidents involving
other people’s vehicles or property can lead to significant financial and legal
liabilities. Under comprehensive car insurance, third-party liability coverage
is included to protect the policyholder from financial and legal burdens in
case of an accident.
What is covered?
·
Damage caused to another person’s vehicle
·
Injury or death of a third party due to an accident
Having third-party
liability coverage ensures compliance with mandatory motor insurance laws in
India while providing financial protection.
Optional Add-On Covers for Enhanced Protection
While comprehensive car
insurance offers broad coverage, car owners can enhance their protection with
add-on covers. These additional benefits help customize the policy based on
individual needs.
Recommended add-ons for better coverage
·
Depreciation Cover: Ensures full claim settlement without factoring in depreciation.
·
Roadside Assistance: Aids in case of breakdowns or emergencies.
·
Engine Protect: Safeguards the engine from damage caused by water ingression or oil
leakage.
·
Consumables Cover: Covers expenses for essential components like nuts, bolts, and engine
oil.
·
Personal Accident Cover for Owner-Driver: Offers financial assistance in case of
injuries, disability, or death of Owner Driver.
Choosing the right
add-ons can significantly enhance policy benefits, ensuring maximum coverage
for various risks.
Why Choose Zurich Kotak
General Insurance?
Zurich Kotak General
Insurance offers tailored policies designed to provide holistic coverage with
key benefits such as:
1) Protection against
accidents, theft, fire, natural disasters, and third-party liabilities
2) Cashless repairs at
network garages across India
3) Hassle-free claims
process
4) 24/7 customer
support and roadside assistance
5) Customizable add-ons
for enhanced security
At Zurich Kotak General
Insurance, we believe your car deserves more than just maintenance; it deserves
complete protection. So why leave things to chance? Secure your car today and
drive with confidence, knowing we’ve got you covered.
About Zurich Kotak General Insurance Company (India) Limited
(Formerly known as Kotak Mahindra General Insurance Company Limited)
Zurich Kotak General Insurance
Company (India) Limited is a 70:30 joint venture between Zurich Insurance
Group and Kotak Mahindra Bank. The Company got its new name ‘’Zurich Kotak
General Insurance Company (India) Limited’’ in the month of August 2024,
following Zurich Insurance Group’s 70% acquisition in Kotak Mahindra General
Insurance Company Limited. It is the youngest and one of the fastest growing
non-life insurance franchises in India.
Kotak General Insurance was established in 2015 to service the growing
non-life insurance segment in India. The company aims to cater to a wide range
of customer segments & geographies offering an array of non-life insurance
products like Motor, Health, Home etc. As a practice, the company seeks to
provide a differentiated value proposition through customized products and
services leveraging state of art technology and digital infrastructure.