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There are a lot of things you must consider when buying a car. From specifications to features and accessories, everything should align with your requirements. However, being car insurance mandatory in India, you must purchase car insurance for your Volvo XC 40 Recharge SUV.
Buying car insurance for the Volvo XC 40 Recharge SUV is crucial not just for legal purposes but also for financial and practical reasons. It provides financial safety by covering the repairs and replacement costs, leading to a good driving experience. Let's dive deep into understanding car insurance for the Volvo XC 40 Recharge SUV, along with the other crucial aspects.
You must buy car insurance for driving your Volvo XC 40 Recharge SUV or any other vehicle on the Indian roads. It is an offence to drive your car without insurance. However, the more significant reason to buy car insurance is that it gives financial protection and peace of mind and fulfils your societal responsibility of driving a car. Here is why you must consider buying car insurance for the Volvo XC 40 Recharge SUV:
Accidents could lead to significant damage to your car, leading to hefty repair and replacement costs. Moreover, there are chances of injuries that follow medical expenses. Car insurance can offer complete or partial financial coverage in such cases, depending on your chosen plan.
In India, it is a legal requirement to have car insurance; hence, by having one, you comply with the law. It will help you avoid penalties, fines, license suspension and other related legal issues when driving your Volvo XC 40 Recharge SUV.
Comprehensive and Third-Party car insurance are the two types of car insurance plans in India. It provides coverage for the damage caused to the third party’s property or life in the event of accidents by your vehicle. Covering their medical bills and repairs is also your legal and social responsibility towards them.
Your Comprehensive Car Insurance plan will compensate you if your car is stolen, lost or affected due to vandalism. Additionally, your car insurance will cover the losses if your Volvo XC 40 Recharge SUV gets totalled in an accident or stolen.
When buying a Comprehensive Car Insurance plan, you can expand your policy coverage through add-ons. Such add-ons may include zero depreciation cover, personal accident cover for passengers, key replacement cover, consumables cover and more.
Accidents are unpredictable, but knowing that your Volvo XC 40 Recharge SUV has car insurance, you can have peace of mind that you won't face any significant unexpected expenses.
In India, car insurance plans are typically classified into Third-Party Insurance Policy and Comprehensive Car Insurance Policy. Under these categories, you can choose to get a number of add-ons to enhance your coverage. Here are details about both types:
Otherwise known as liability insurance, the third-party car insurance policy protects against the damages or injuries that happen through your vehicle to other people and their property. It covers medical bills, repairs and replacement of third-party car or property when the damage is caused by you/your vehicle. The premium of a third-party car insurance plan is cheaper than the comprehensive policy. However, it does not pay for your own vehicle damage. According to India’s Motor Vehicle Act, buying a third-party policy at least is mandatory.
If you want complete protection for your Volvo XC 40 Recharge SUV, opt for a comprehensive insurance policy. It provides third-party as well as coverage for your vehicle. It also has accidental death benefits given to the driver's family. It comprehensively covers your car from incidents such as theft, collision with another car, natural disasters, vandalism and more. Moreover, you can expand your coverage by getting the needed add-ons to your policy in the comprehensive insurance policy.
What Is Covered
What Is Not Covered
Your Volvo XC 40 Recharge SUV Comprehensive Insurance Policy will provide coverage against the following:
Liability coverage such as medical costs, repair and replacement and more.
Collision coverage, such as damages to your vehicle due to collision with another vehicle.
Comprehensive coverage, such as theft, natural disasters, civil disturbance, fire and more.
Total damage coverage, such as third-party property or life or loss of the insured vehicle.
Your Volvo XC 40 Recharge SUV Comprehensive Insurance Policy will not provide coverage against the following:
Intentionally damaging other vehicles.
Regular wear and tear, depreciation and mechanical breakdown.
Damage due to racing or stunting.
Driving under the influence of intoxicating substances.
Driving with an invalid driving license.
Exclusions are mentioned in the policy documents.
Add-ons or riders are additional coverage you can opt for your car along with your standard policy. These add-ons come in handy for people looking to address specific needs or cover risks not covered in the primary policy. However, evaluate your needs, risks and budget before buying add-ons for your Volvo car. Here are the available add-ons for your Volvo XC 40 Recharge SUV:
Zero Depreciation Cover
Roadside Assistance Cover
No Claim Bonus Protection
Engine Protection Cover
Key Replacement Cover
Outstation Emergency Cover
Return to Invoice Cover and more
Here are the top benefits of buying online car insurance policy for your Volvo XC 40 Recharge SUV:
With ACKO, your car insurance buying experience becomes hassle-free as the entire process takes place online. Absolute zero paperwork is involved in buying and renewing your car insurance policy. You can pay digitally, read terms and conditions online and complete the process without any stress.
With ACKO car insurance, you get death and disability coverage for the owner-driver of the insured vehicle. You can apply for Personal Accident add-on cover for financial coverage against disability or death up to Rs. 15 lakhs. There is an optional Personal Accidental Cover for Passengers that you can opt for to protect your loved ones in case of unfortunate incidents.
Buying or renewing your car insurance with ACKO is a very simple and hassle-free process. Here are the steps to buy or renew Volvo XC 40 Recharge SUV Car Insurance from ACKO
Visit the top of this page, or click on this link, or download the ACKO mobile app.
Punch in your vehicle number and click on “check prices”. If you have previous policy details, add them.
Choose the plan and add-ons you like.
Make payment for premium online to buy or renew car insurance instantly.
The claim process with ACKO is extremely easy. Here are the steps involved:
Visit ACKO.com or claim through the Mobile App.
Look for the Claim Now option and click on it
Share the required details and pictures of the damaged car
For minor damages, you are eligible to get an instant claim settlement
ACKO will take care of the significant damages at their network cashless garages
Yes, buying car insurance is mandatory to drive your Volvo XC 40 Recharge SUV on Indian roads. Third-party car insurance is the basic plan you can opt for.
Yes, with ACKO car insurance’s Personal Accident add-on cover, you get financial coverage against disability or death up to Rs. 15 lakhs.
Some add-ons like No Claim Bonus Cover, Consumable Cover, Passenger Cover and Depreciation Cover can be beneficial with comprehensive car insurance.
Yes, you can raise the car insurance claim for minor damages to your car by logging in to your ACKO account or through the mobile app. Minor damages are eligible for instant settlement with ACKO.
The significant difference between the two is that third-party insurance does not provide Own Damage Cover and has no option for add-on coverage, while comprehensive car insurance has both.
We recommend you renew your car insurance online, which happens almost instantly.