• Car insurance is an essential investment that every vehicle owner should make to safeguard their automobile from unexpected occurrences. Given the rising number of vehicles on Indian roads, selecting the appropriate insurance policy that addresses all potential risks you and your vehicle may encounter is crucial.

• First-party car insurance, frequently referred to as comprehensive car insurance, is among the most inclusive types of car insurance offered in India. It provides extensive protection to both the vehicle and its owner. This article will explore the intricacies of first-party car insurance, covering its advantages, what is included, and what is excluded.

What is First-Party Car Insurance?

• First-party car insurance is generally categorized as comprehensive coverage, a type of protection primarily for both the vehicle and the owner against various risks. It encompasses broad safeguards and protection against unnatural losses such as theft, fire, natural disasters, and accidental damages. Furthermore, it includes coverage for third-party liabilities, which involves theft, loss, and road-related injuries to other individuals.

• With numerous features, it guarantees tranquility while driving. Here is a summary of its primary characteristics:

Benefits of First-Party Car Insurance

Here are several inclusions of car insurance coverage:

1. Own Damage Cover

Whereas third-party car insurance provides only liability coverage, comprehensive car insurance includes own damage cover. This indicates that the policy will address the repair or replacement of your vehicle in case of damages resulting from any accident, theft, or natural calamities. You should confirm with the insurance provider regarding the level of your own-damage coverage.

2. Third-party liability cover

Comprehensive car insurance comprises third-party liability cover, which handles the legal and financial liabilities that may arise from an accident involving your vehicle. This cover takes care of the third party’s medical expenses, as well as compensating them for any damages inflicted on their property. This is the protection you would receive if you purchased third-party car insurance; however, with first-party car insurance, you are provided with both third-party liability and own-damage coverage.

3. Personal Accident Cover
   Comprehensive car insurance encompasses personal accident coverage for the policyholder and passengers in the event of an accident. This coverage offers compensation to the policyholder and passengers in the case of death or disability resulting from an accident.

Difference between First-Party and Third-Party Car Insurance

• Selecting the appropriate car insurance is extremely important as it plays a crucial role in securing your finances and adhering to legal regulations on the road. Grasping the differences between first-party and third-party car insurance policies is essential for making a knowledgeable choice. Below are the key differences between these two varieties of coverage:

How to File a Claim under First-Party Car Insurance?

To submit a claim under first-party car insurance with Bajaj Allianz:

Step 1: Register Your Claim

Contact Bajaj Allianz’s Motor Claim Assistance Number at 1800-209-5858 or utilize the Motor On The Spot service. You can also achieve this by calling 1800-266-6416. Alternatively, you can register your claim through Bajaj Allianz’s Caringly Yours App.

Step 2: Provide Details

Share your contact, accident, and vehicle information.

Step 3: Get a Claim Reference

Obtain a Claim Reference Number for tracking purposes.

Step 4: Send for Repair

Transport your vehicle to a garage to avoid further damage.

Step 5: Survey and Settlement

Submit documents for evaluation and select the Motor OTS service for minor damages.

Also Read: The Magic Of Car Anti-Lock Brakes: Why They’re A Game-Changer!

Why Choose First-Party Car Insurance?

First-party car insurance, also referred to as comprehensive car insurance, provides an array of benefits for vehicle owners. Here are the main reasons to opt for it:

1. Wide Coverage

In contrast to third-party insurance, first-party insurance covers damages to your own vehicle in addition to third-party liabilities. This ensures you’re financially protected against mishaps, theft, natural disasters, and vandalism.

2. Personal Accident Cover

First-party insurance generally includes coverage for the driver and passengers, providing compensation in the case of injury or death arising from an accident.

Also Read: How to Transfer Car Insurance to New Owner?

Conclusion

First-party car insurance, also called comprehensive car insurance, provides extensive coverage for vehicle owners. It safeguards against damages to the insured vehicle, theft, fire, and natural disasters while also encompassing third-party liabilities. Additional advantages such as cashless claim settlement, 24/7 roadside assistance, and customizable add-ons render it a well-rounded policy. Although it offers financial security, it does not include coverage for intentional damages, wear and tear, or incidents stemming from illegal activities. This policy is perfect for car owners desiring complete protection and peace of mind.

FAQs

1. Is first-party insurance mandatory?

No, first-party insurance is not legally required, but third-party insurance is mandatory and significant under the Motor Vehicles Act of 1988.

2. What does first-party car insurance cover?
   First-party car insurance provides coverage for damages to your vehicle, accidents, theft, fire, vandalism, natural disasters, and additional events. This type of insurance may encompass multiple issues and occurrences, including accident coverage and safeguards against different risks.