Even after insuring the car after buying it, your problem does not go away completely. The main reason for this is that insurance companies do not compensate your loss even in the event of damage to the car in certain circumstances.
Buying a car is easy, but the loss incurred due to an accident creates trouble for you. We all get rest assured by buying a car insurance policy to avoid expenses i.e. financial coverage. However, there are certain damages or contingent losses, which are not covered by most of the insurance companies. Your motor insurance policy does not cover any non-accidental damages like wear and tear, mechanical or electrical failure. Similarly, there is no cover for accidental damage after driving a car by consuming alcohol or any other intoxicant.
After taking a car insurance policy, we all assume that we are completely safe from unexpected expenses in the event of an accident, whereas this is not completely correct. Most of us forget to know the things about motor insurance policies which do not provide cover in certain situations. However, these insurance companies determine in advance. It is even clearly mentioned in the policy document, but due to the fine print, it is often ignored.
Know why the benefits are not available after all:
Rakesh Goyal, director, Probus Insurance Broker, says that such non-accidental damages are not covered under normal motor insurance coverage. Come, know about the expenses that you may have to bear if you are not covered in car insurance. Your insurance policy will not pay for incidental loss, which occurs indefinitely after the accidental loss coverage. You can understand it like this, a fault that is not directly related to the accident.
If your car breaks the bonnet like this, then your pocket will be loose
Pooja Yadav, Chief Product Officer, Edelweiss General Insurance said, “If an insured vehicle is involved in an accident on the highway, it should be moved to the nearest storage. The bonnet may break during towing. Such damages are not compensated as it is a non-accidental matter.” He says that many factors can be responsible for the contingency damage. Even in a half-storm, a tree can fall on your car, which will not be compensated.
Must choose the right insurance policy
According to Pooja Yadav, sudden changes in climate, even sudden crossing of the road by pedestrians can cause this damage. Insurance companies do not compensate for such loss. However, if the right insurance policy is taken by including these things in the insurance cover, then you can avoid financial loss to a great extent.
