Car Insurance Benefits for Women Drivers

car-insurance-premium

The number of female drivers in India is on the rise as more and more women are becoming financially independent. This is a good sign that indicates our country is taking progressive steps towards gender equality and is accepting the concept of women empowerment.

Today, many women are leaders in multinational firms and are demonstrating high-levels of competitiveness across all fields. They also have to attend important meetings at different locations and this requires a substantial amount of travelling by car.

This means that the need for Car Insurance by women are similar to that of men. Hence, it is advisable to choose extensive coverage as it is bound to provide a plethora of services – as demanded by the situation. Here are the various advantages of purchasing a car insurance:

  • Will provide monetary benefits to family members of the policyholder, if an accident results in death. Note that the monetary benefits received in this instance are nominal.
  • Covers legal fees that might arise due to any accidental injury caused to a third-party. Your car insurance will also protect you against lawsuits and any kind of third-party liability.
  • In case your vehicle is destroyed in an accident, you will need overnight accommodation facility. Your car insurance, provided it is equipped with the roadside assistance add-on, is designed to provide assistance during such events and also cover expenses of a hotel.  
  • Towing your car to the nearest garage will be necessary if your car breaks down in the middle of nowhere. This facility can be availed by choosing customer-centric service providers like Bajaj Allianz General Insurance.
  • You might need to hire a cab for transportation if there are any breakdowns or accidents. Reimbursement for the same will be provided by your car insurance provided you have opted for the 24×7 assistance add-on.
  • Any damages that occur to your car due to fire or natural calamities like floods and earthquakes will also be covered by your four-wheeler insurance policy.
  • In case your car is stolen, then the much needed monetary assistance will be provided.
  • Additional discounts and benefits will be provided for maintaining a flawless driving record.

Important Car Insurance Terms

NCB: The full-form is No-Claim Bonus and as the name suggests, it’s a reward provided to insurance holders for having a clean driving record. This benefit can be availed during the renewal process, and the money obtained can be used for making subsequent premium payments.

IDV: This acronym stands for Insurance Declared Value and is something that’ll be decided by your insurer. The depreciating value of your car will be taken into consideration to arrive at the final figure. Your car’s rate of depreciation will be expressed in percentage value. Following is the simplest formula for calculating IDV. Use an online car insurance calculator to determine your premium rates.

IDV= (Selling price as listed by the manufacturer – depreciation) + (Accessories not installed at factory – depreciation) – Registration and Insurance costs.

Third-Party Coverage: This term encompasses all the damage inflicted by the insured car to the third-party. Recent changes in the legislation has made it mandatory for all car owners to obtain this coverage.

Garage Facility: Your Insurance provider will have networked garage all over the country. For example, Bajaj Allianz General Insurance customers can obtain cashless services at any of the listed garages without any hassles. Speedy repairs are essential to get your car up and running after an accident, hence, your insurance policy will offer coverage for the same.

There are a plethora of benefits offered by car insurance plans to women drivers. But, if you want to understand it better, you can utilise the car insurance calculator to ascertain the right plan for yourself. Visit the Bajaj Allianz General Insurance website to buy your third party car insurance or a comprehensive plan today!

Leave a Reply

Your email address will not be published. Required fields are marked *