What is Car Insurance?
Car insurance is a contract between a customer and an insurance company that covers your financial losses in the event of damage or loss of the car. Car insurance providers offer a variety of insurance plans and premium packages. However, buying a car insurance policy can be a challenge for customers. Lack of access to relevant information and complete information can lead to the wrong decision.
What does your car insurance coverage in Pakistan include?
Car insurance companies look at a number of factors before offering any policy. The following important factors can affect a car premium:
• Includes vehicle value
• Provides cover for car damage, such as theft
• Includes ****** injuries
• Includes injury costs, rehabilitation, and sometimes funeral expenses
What Is Uncovered About Car Insurance in Pakistan?
A comprehensive car insurance policy aims to provide maximum benefit to car owners. However, certain areas are not covered by the car insurance policy in Pakistan as listed below:
• Intentional injuries are not covered
• Damage caused by vandalism not covered
• Battery damage
• Tire damage
• Damage caused by a short circuit
Car Insurance Types & Policies offered in Pakistan
Getting car insurance has become very easy for motorists these days in Pakistan. Many car insurance companies operate in the market. Because of the fierce competition in the marketplace, car buyers need to know what kind of insurance they are getting. According to the country’s traffic laws, a car owner must at least have third-party car insurance. Therefore, the car owner should strive for this policy that provides peace of mind. The following are the types of car insurance policies offered in Pakistan:
• Third Party Car Insurance
• Complete Car Insurance
1- Third Car Insurance
Third-party car insurance is a minimum of legal requirements that include damage caused to a motor vehicle. It covers drivers for injuries they inflict on someone else’s property. It also provides them with protection from injury caused by another driver or passenger.
2- Complete Car Insurance
This is the highest level of protection that covers all the damage to vehicles and foreign investments. Motorists can enjoy many benefits when purchasing complete car insurance. With this type of insurance, a person may want to lose or be wrong. It also deals with litigation, vehicle damage and provides financial assistance if the vehicle is canceled. However, it does not include mechanical or electrical impairment, depreciation, and vehicle impairment.
Key Benefits of Buying Your Car Insurance
Car insurance providers in Pakistan offer many benefits to car owners. These companies look at various factors while providing people with car insurance. However, the most important services that drivers can get through car insurance in the country are:
• Peace of mind is guaranteed by car insurance
• It assists in financial planning
• Reduces financial risk
• Protection from motor vehicle damage
• It covers the personal risk
• Provides protection against debt, theft, and total losses