Comprehensive insurance

Comprehensive insurance Coverage

Comprehensive insurance doesn’t mean “including all or everything” as in case of dictionary meaning.

Example : Comprehensive car insurance policy doesn’t cover collision insurance though it may cover theft, vandalism, fire, falling objects, natural disasters…. Likewise a comprehensive home insurance policy doesn’t cover damage caused due to war or wear and tear…

Inclusions in Insurance

As with all insurance policies, you should check with your insurance agent to make sure what perils are included under the comprehensive coverage of your insurance policy.

Consider, someone is willing to buy an expensive car. Since car insurance is mandatory in India, he has to choose the best policy from different insurance companies.

Here comes the problem:

Whether to choose comprehensive insurance policy or fully covered insurance plan

If he choose comprehensive insurance policy; and one fine evening he goes for a ride with his expensive car and then all of a sudden he lose control and hit an oncoming car. Say, the other car has fully covered insurance and luckily both of them have health insurance!! So, even though he is paying premium for comprehensive insurance policy he doesn’t receive insurance. But, the other person by paying little extra premium and opting for fully insurance policy he gets insurance.

Recommended Read :

• How to Select Car Insurance Provider?
• How to Find The Cheapest Car Insurance?
• Important Points to Check Before Buying Car Insurance
• 5 Tips to Prevent Rejection of Car Insurance Claims
• How Many Times Can I Claim Car Insurance?
• Vehicle Modification Insurance Rejection
• Minor Repairs Claim Vs No Claim Bonus
• Is Full Coverage Car Insurance Worth It
• What is Full Cover Comprehensive Car Insurance?
• Comprehensive Insurance
• Third Party Vs Full Cover Car Insurance

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