Does your car insurance give you flood coverage? Here’s all you need to know

car insurance

Every monsoon images of cars heavily trudging through waterlogged areas or stranded in knee-deep muddy water flash on our screens. Every year we see these images, think of the poor car owners, comment on how bad the rain and public infrastructure is and move on with our lives. But deep down you will have to admit that the thought of your car being stranded in the middle of a waterlogged region has struck fear in your mind.

How can you protect your car?

So, how does one protect their car and savings from such an event?

Natural disasters like floods, hailstorms, typhoons, cyclones are unpredictable but what is predictable is the hole they will burn in your pocket simply on the expenses you will have to foot for damages to car parts and accessories. The damage would be all the worse in case the water seeps inside and damages the core parts.

Basically, there are two types of damages that can set you back. One is damage to core parts such as the engine and accessories, the second is damage to the electrical system.

It is the damage to the engine that you will have to watch out for as a partially or completely ruined engine can cost you a hefty Rs 1 lakh. Similarly, damage to accessories depending on their nature and extent can eat away your savings.

Car insurance to the rescue!

You can save your bank balance from such expenses by purchasing car insurance online. However, there is a catch here: You won’t get any reimbursements if you only have third-party insurance cover.

Third-party insurance will give you coverage in case of an accident where the vehicle of another person also suffers damages. The insurance company will step into such a situation and will pay the person whose car has suffered damage on your behalf. However, third-party insurance provides coverage only in respect of liabilities incurred by you towards another person or vehicle. It does not cover damages due to natural disasters and other unfortunate happenings.

This is why it is always advisable to purchase a comprehensive insurance policy that is tailored to cover events like natural disasters, accidents, thefts. A car that has suffered extensive damage can only be replaced or repaired under a comprehensive insurance policy.

In case your car is financed, the bank or the lender organisation will insist that a comprehensive insurance policy should be purchased.

There are other add-on benefits like a no-claims-bonus protector, engine protection, zero depreciation, roadside assistance, and personal safety cover that a car owner should ideally consider purchasing.

Wrapping Up

Before you purchase car insurance be sure to buy it from the right place and for premiums that are priced appropriately. If you wish to buy or renew an insurance policy, do so from the insurer’s website or from an app like Acko car insurance. You can also take the help of a car insurance calculator online.

Also, you can choose a comprehensive Bajaj car insurance policy such as the one being offered on Finserv MARKETS. The car insurance offered by Bajaj Allianz gives your vehicle coverage against natural and man-made disasters such as earthquakes, robberies and others.

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