Diwali or Deepavali is one of the biggest festivals in India. Being one of the most significant festivals in India, it is celebrated with relatives and friends with lots of fervor and enthusiasm. Sweets, the lighting of diyas or lamps, wearing new clothes and bursting firecrackers are an integral part of this important festival.
Children and adults equally enjoy bursting crackers and attending firework displays and savouring special sweets and delicacies made especially during Diwali. Amidst all the frolic and fun, there are chances of mishaps to occur. The risk of fire and damage can never be ignored despite being cautious while handling fireworks or bursting crackers.
We take the utmost safety precautions and protect our family and ourselves, but sometimes we forget about our car and its safety. It’s not a great feeling when you see your car damaged by firecrackers.
This is where your Comprehensive car insurance policy comes to your aid. While there are no customised insurance policies for festivals in India, your Comprehensive car insurance will take care of damages caused due to a fire. This will ensure your car is well protected and you need not worry about a massive repair bill. Here are some important car insurance tips that will keep your car protected in case of unexpected damage caused during Diwali.
Compare Insurance Plans:
There are several car insurance policies in the market which come with different features and benefits. You need to understand and educate yourself about these insurance covers offered in the market to make the most of them. It’s better you window shop before you decide on the right plan. While the traditional method of buying car insurance through a dealer is still prevalent, new-age digital insurance companies offer policies directly to customers with a host of benefits.
You can get car insurance online without much paperwork and it’s a lot more stress-free as the process to buy or renew the policy can be done without much effort. You can also log in to your account whenever you want, download the soft copy of your insurance policy document, etc.
Choose an insurance company which offers the best value for money. However, make sure the Insured Declared Value (IDV) is of the right value, the premium is low, and check what it covers so that you and your car are well-protected from any untoward circumstances.
Also, as per the Motor Vehicle Act, it’s mandatory to have a third-party insurance cover of three years for your new car. But to cover Own Damage (OD) for your car, you need to opt for the comprehensive policy which includes both third-party liability and OD. This means your car and the third-party is covered and you need not worry about any financial losses.
Hence, if your car is damaged due to fireworks, a comprehensive policy can cover the damages. Please note, by having only a third-party cover your car will not be covered for damages caused by firecrackers.
Transfer Your No Claim Bonus:
Diwali offers on cars come with several benefits. During this auspicious time, carmakers offer several discounts and benefits to customers. Make use of these offers to get the best price for your vehicle as per your budget. Also, if you are selling your old car and buying a new vehicle, take advantage of the No Claim Bonus (NCB) as the car insurance is for the vehicle but NCB is for the owner.
At the end of 3-4 years, the NCB discount can go up to 50%. Most policyholders do not know that they can transfer the NCB to the new car’s insurance policy. Ensure you take advantage of the NCB if you happen to buy your new (next) car this festive season.
Car Insurance Tips:
Now that you know that a comprehensive car insurance policy will cover Own Damage, here are some of the important car insurance Add-ons that will protect your car comprehensively:
- Engine Protection Cover: This feature covers damages caused to your car engine. It covers repair or replacement of your engine or parts such as connecting rods, pistons, etc. This Add-on comes in handy if you have bought a new car offering an extra layer of protection to your car.
- Bumper to Bumper Cover/Zero Depreciation: People often get dismayed when they see a slight scratch on their car. While car insurance might cover small dents and scratches, depreciation affects the value of the car and the claim amount. However, with the insurance Add-on of Zero Depreciation, the insurer pays the entire cost of external damages without depreciating the value of the car.
- Accessories and Fitting Cover: Customising your car to suit your style and preferences makes it unique and stand out in the crowd. And, you certainly would want to make sure these accessories or fittings are not damaged. Car accessories are valuable hence, need to be insured. Through the Loss of Accessories Add-on, accessories such as LCD TV, reverse camera, high-end music system, etc. can be covered.
- Invoice Cover: The base policy covers only some liabilities; however, to cover your car comprehensively, you need an insurance policy which can compensate as close to the original value of the car. With the Invoice Cover or Protection Add-on, your car gets complete financial security. If your car is totally damaged due to fire or theft, the insurer pays you as much as the original invoice value of your car.
Check for Discounts on Car Insurance:
Insurance companies offer discounts especially for customers who have installed an approved anti-theft device. Also, if you are a member of automobile associations, you might be entitled to discounts on your base premium. Hence, check with your insurer if you are entitled to any discounts and take advantage of it.
Cashless Claim Settlement:
When you raise a car insurance claim for damages to your car, the process is a lot easier when it’s a Cashless Claim Settlement. Choose a car insurance policy which offers you the benefit of cashless claims. It removes the hassle of reimbursement and the cumbersome claim process.
New-age insurance companies offer cashless claim settlement making it simpler and easier to get your car fixed without having to worry about initial funds to repair your vehicle. These digital insurance companies offer to pick your car, repair it at cashless garages and then deliver the car to you.
Gone are the days when you have to pay from your pocket initially and then initiate the reimbursement process. Opt for an insurance company which offers hassle-free and more value for money services.
Check Insurance Company Profile:
A quick research about vehicle insurance companies in India will let you answer questions such as ‘What is the claim settlement ratio of the company?’, ‘Is the claim process easy and hassle-free?’. Online insurance companies have made life easier with most of the work done through the power of the internet. You can either raise a claim through their website or download their mobile app to register the claim.
Car Safety Tips to Avoid Damages:
Here are some basic tips to keep your car safe from damages during Diwali:
- Park your vehicle in a garage or under a shelter to avoid any untoward damages from firecrackers or sparks emanating from firecrackers.
- If you do not have a garage to park your car, take help from your friend who can park your car in his garage or park it a safe commercial parking lots.
- Park your car where the bursting of firecrackers is more unlikely.
- Keep the windows shut to avoid any stray firecrackers entering the car and cause a fire inside as interiors are prone to catch fire.
- Avoid car cover as these are not fire-resistant. A small spark can cause catastrophic damages to your car.
- If people on the street are bursting firecrackers, stop your car at a safe distance and wait until it’s safe to move.
- You may want to invest in a fire extinguisher. Keep it in close proximity so that it can be easily accessible when there’s a fire.
- Driving under the influence of alcohol or intoxicating substances can impair your judgement skills if you have to negotiate a firecracker. It’s advisable not to drink and drive.
- Keep a first-aid kit as firecrackers can cause severe burns and accidents.
Choose an insurance company which offers you services they provide after the insurance is bought as well as how well they are able to settle claims. Additionally, insurers who offer better value for money and the right IDV will protect your car comprehensively.
Insuring your car offers peace of mind even if a stray firecracker causes damages to your vehicle during this festival of lights. Ensure you read the terms and conditions of the car insurance policy and that it suits your requirements. We think our guide to purchasing the best car insurance policy during Diwali 2020 is a good source that educates you on how to protect your car during Diwali comprehensively.
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