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• Keep your vehicle covered by a Comprehensive or at least Third Party Risk insurance policy at all times. Third Party Risk Policy does not cover any loss or damage to your vehicle by your own act. It only covers loss, damage or injury caused to a third party while driving the insured vehicle. Comprehensive Policy covers third party risk as also any damage, loss or injury to your insured car or its occupants even if such damage, loss or injury is caused by you or any other licensed person while driving the insured vehicle with your approval. • Failing to renew the insurance policy on time can prove to be costly as there is not even one day grace period after its expiry during which you may claim compensation for any loss, damage or injury. It is advisable to check up with your respective insurance company for rules regarding delays in extension. • The Policy should specifically cover all costly additional fixtures and add-ons to your car e.g. music system, air conditioner, car phone and any other costly gadgets. These are not automatically covered by the insurance policy. • You should very carefully work out the value for which the insurance policy is to be renewed. The general rule is that the insured value must cover the market price of your vehicle. • Insurance Companies consider payment of compensation only if the insured vehicle was being driven by the insured person or any other person licensed to drive and who was driving with the knowledge of the insured person. • All insurance policies are valid for a specific geographical area, which is generally ALL INDIA. This should be checked. |
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