First Party Car Insurance: 4 Reasons Why You Need It

Having third-party vehicle insurance is a legal mandate in India. However, many car owners are now even considering first-party car insurance to protect themselves and their cars against a mishap.

While first-party vehicle insurance can cover you against a range of uncertainties, here are four top reasons to consider it.

Reasons to Buy a First-Party Insurance

Comprehensive Coverage

The most significant advantage of first-party car insurance is that it offers comprehensive coverage. Unlike third-party insurance, which only covers third-party liabilities, comprehensive car insurance offers financial coverage for your car.

With first-party vehicle insurance cover, you can claim damage recovery whether the car has suffered a major collision or a minor dent.

New car owners are often prone to minor accidents that damage their cars. With first-party insurance coverage, they can have a financial shield to provide relief in case of a road accident. Moreover, first-party car insurance coverage also offers personal accident coverage to the car owner.

24/7 Roadside Assistance

One of the most unique benefits of first-party insurance is that it offers 24/7 roadside assistance. The top insurers that allow you to buy car insurance online offer this facility.

The best insurance companies offer roadside assistance, including fuel deliveries, car towing and tyre changes.

With such insurance cover, you can avoid being stranded on the roads due to vehicle breakdowns when on a journey. This is especially important when you do not have help to mend the car on your own.

Coverage Against Natural and Manmade Disasters

First-party car insurance provides financial assistance to cover the damages to your car caused by a natural disaster. Calamities like earthquakes, cyclones, floods or lightning can badly damage your car. These damages can be easily covered when you buy car insurance online with the first-party benefits.

Moreover, this comprehensive car insurance is also meant to offer financial safeguards to your vehicle if malicious activities like theft or vandalism impact it. Such incidents can suddenly disrupt your budget and cause financial emergencies. With reliable first-party insurance coverage, you can be assured of protection for your car and your finances.

Customisation with Add-Ons 

When you are considering a first vs third-party insurance comparison, one benefit that makes first-party car insurance a winner is the customisation offered by the insurer. When you buy car insurance online, you can choose from an array of add-ons to customise your policy. Policyholders can enjoy the benefits of first-party insurance along with the flexibility of customisation with the right add-ons. Some of the most commonly chosen add-ons are:

• Engine protection for the car
• Nil depreciation
• Key replacement allowance
• Consumables cover
• NCB retention
• Return to invoice cover

In contrast to third-party car insurance, which cannot be customised, first-party insurance offers flexibility with an additional premium amount.

Conclusion

Car owners often have to contemplate their choice with a first vs. third-party insurance comparison. By comparing comprehensive insurance with third-party insurance, you will often find that first-party vehicle insurance has several benefits that can protect you and your car financially in times of uncertainty.

If you are convinced of the benefits of first-party car insurance, compare policies from reputed insurance companies and buy car insurance online.