What do the following have in common?
- Slippery roads
- Water-logged streets
- Reduced visibility
The answer is – the monsoon season.
Driving during monsoons is no easy task as the above-mentioned dangers damage the condition of roads. All these dangers increase the probability of accidents as well as damages to vehicles owned by you and your clients. That is why it is essential to have a comprehensive motor insurance policy for vehicles. Let’s understand what the policy is all about and why it is needed.
What is a comprehensive motor insurance policy?
A comprehensive motor insurance policy is one which covers the vehicle against all possible damages. It covers the third party liability suffered if the vehicle causes physical injury, death or property damage of a third party. Moreover, the comprehensive motor insurance policy also covers the damages suffered by the vehicle due to natural or man-made calamities. Thus, if monsoon poses any threat of damage to your or your clients’ vehicle, the damages would be insured under a comprehensive motor insurance policy and the repair costs would be paid.
Why is the policy a must for vehicles this monsoon?
Here are some reasons which make a comprehensive motor insurance policy a must for vehicles this monsoon season –
- Increased chances of damages
As mentioned earlier, monsoon increases the chances of damages suffered by your vehicles as well as your clients’. Imagine speeding on an open road when a pothole damages the underside of the car or causes a bike accident. The incurred repair costs would be considerable and if the vehicle is insured under a comprehensive plan, the costs would be handled by the policy.
- Financial security
As a comprehensive policy undertakes the repair bills, it frees you and your clients from the financial implication of an accident. Thus, you and your clients can enjoy financial security in the knowledge that if the vehicle is damaged due to the bad conditions of the roads, the policy would pay the underlying costs of repairs.
- Legal necessity
Third party coverage is necessary on a vehicle which protects the interests of third parties if they suffer any loss due to your or your clients’ vehicles. By covering third party liabilities, a comprehensive motor insurance policy also fulfils the legal need of owning valid third party coverage on the vehicle. This allows you and your clients to escape from the legal implications of being caught with no insurance.
A comprehensive policy, therefore, comes to rescue in case of damages to the vehicle and should be invested in this monsoon.
Engine protection add-on – a must this season
Comprehensive motor insurance plans offer optional add-ons to enhance the coverage of the policy further. These add-ons come at an additional premium and prove beneficial in difficult times. One such add-on, which becomes quite relevant this monsoon season, is the engine protection add-on. This add-on covers engine damages due to water logging. If the vehicle’s engine gets damaged due to water seepage, such damages would not be covered under the comprehensive motor insurance plan. However, if you or your clients choose this add-on, coverage for such engine damages would be allowed.
If you or your clients live in an area which is prone to waterlogging or flooding during monsoons, an engine protection add-on is a must. The cover should be taken when buying or renewing the motor insurance policy so that possible engine damages, which are expensive, can get covered.
The bottom line
While you enjoy the monsoons and go on long drives to enjoy the weather, make sure to protect the vehicle before stepping out. You cannot change the conditions of the roads but you can definitely secure your and your clients’ vehicle against possible damages by investing in a comprehensive motor insurance policy with the engine protection add-on. So, understand the need of a comprehensive plan on your vehicle and also educate your clients about the same so that all your vehicles can be insured against the dangers which monsoon brings in its wake.