Why Car Insurance Is The Best Diwali Gift

Why Car Insurance Is The Best Diwali Gift

Diwali is just around the corner. Even with the on-going pandemic, the spirit of Diwali in India is not tamed. People are as enthusiast as they are always, just with more precautions, which is a must. And much like any other Diwali year, it is common for everyone to face the same dilemma: what should I gift?

Well, if you know that a family member or a close friend has just purchased a new car, how about you gift them a car insurance plan?

Buying a car is a dream of millions in India. The festival of lights happens to be an auspicious day to get home the new member of the family. A comprehensive car insurance plan, like that of Bajaj Car Insurance, can safeguard the vehicle against accidental damage and more.

Let us understand why car insurance is the best Diwali gift.

Why Buy Car Insurance As A Diwali Gift?

As stated earlier, car insurance is a policy that protects your precious vehicle against third-party and accidental damages. The policy is available in the market in two types:

  1. Third Party Car Insurance Plan
  2. Comprehensive Car Insurance Plan

Third Party Car Insurance

Ideally, third party car insurance is mandatory by law under the Motor Vehicles Act, 1988. The policy is known to protect against third-party liabilities such as injuries to other people or property damage due to the insured vehicle. The premiums of third party car insurance are cheap as well. However, as the policy offers limited coverage, it is advisable to invest in all-around protection – that is a comprehensive car insurance plan.

Comprehensive Car Insurance

Comprehensive car insurance provides extensive coverage as it protects against third-party liabilities as well as damage to your vehicle. Moreover, you can enhance the scope of the plan with add-on covers such as zero depreciation cover, engine protection cover, no claim bonus protection cover, etc.

The premiums of a comprehensive car insurance plan are slightly more than third party car insurance. You can use the car insurance calculator to determine the cost of the policy based on your selected coverage and add-on benefits.

Benefits of Car Insurance

We have enlisted some benefits of buying car insurance, making it the best Diwali gift this year.

  • As mentioned earlier, car insurance is a mandatory policy by law. Failing to present a valid plan can attract hefty penalties. According to the New MV Act, the penalty for driving without valid insurance is Rs. 2000 and/or imprisonment up to three months.
  • A comprehensive car insurance plan covers third-party liabilities as well as damage caused to your vehicle. That way, you can avail all-around protection at all times.
  • Your car is protected against damage due to accidents, theft, or loss due to natural and man-made disasters.
  • You can travel short or long distances comfortably without any worry.

So, this Diwali season, along with the traditional gifts, include a thoughtful gift that will help your loved ones financially in the long run. Buy a car insurance plan and enjoy a safe and joyous Diwali.

Maria Fernsby

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