As per the Motor Vehicles Act, 1988 third-party motor insurance is a must in India. It is not only mandatory by the law but also protects you and your family financially in case of an unforeseen event like an accident. Car Insurance provides a financial safety net in case of theft or damage to your car. There are many risks associated with driving during monsoons, and your car insurance provides you with financial protection in case of an accident or theft. In monsoons when roads are wet and the chances of a mishap are more than usual, it is only obvious to stay protected with comprehensive car insurance.
While monsoon can be a time of adrenaline rush for those who enjoy long drives and rides, the same can easily become a matter of concern, if sufficient caution is not maintained. This is because the risk of accidents is higher during monsoons as the roads are slippery and visibility is low, which further accentuates the need for good car insurance if you are planning to drive your car in the monsoons.
What are the risks associated with driving during monsoons?
Driving in the rain can be risky. Some of the risks associated with driving during monsoons are:
1. You may lose control of the car due to slippery roads and end up crashing into another vehicle or a stationary object.
2. You may skid while taking a turn and hit a pedestrian or another vehicle.
3. Due to low visibility, you may not be able to see a pothole or an object in the middle of the road and end up damaging your car.
4. Flooded roads can damage your car’s engine and electrical system.
5. Your car may be swept away by a sudden surge of water if you have parked it in a low-lying area.
What are the benefits of car insurance during monsoons?
1. Car insurance provides financial protection if your car is damaged or stolen. Also, it is easy to compare and buy car insurance online. So, there is no reason to buy one.
2. If you are involved in an accident, comprehensive car insurance will cover the costs of treating any injuries you or your passengers may have sustained.
3. If your car is damaged due to floods or landslides, car insurance will cover the costs of repairs.
4. Car insurance also provides you with legal protection if you are sued for damages in an accident.
5. This insurance will cover the replacement cost if your car is stolen.
Nature of Damages Covered by Insurance
Monsoon is the rainy season and often results in waterlogging, flooding, and landslides. Your car insurance policy will cover damages to your car arising out of these perils.
The common damages that insurance companies cover are:
1.Water-logging and flood damage: One of the most common hazards during the monsoon season is water-logging and flooding. It can damage your car’s engine and other electrical components. The insurance company will cover the repairs if your car has been damaged due to water logging or flooding. If the car is declared a total loss, you will be compensated for the same.
2.Land Slide and mudslide damage: In case of landslides or mudslides, your car may get damaged due to being hit by rocks, debris, and trees. The insurance company will cover the repairs arising out of such damages.
3. Hit by another vehicle: Monsoons result in poor visibility and slippery roads. Due to this, there is a risk of your car getting hit by another vehicle. If this happens, then the insurance company will cover the repairs.
4. Accidents due to slippery roads: Monsoons also result in accidents due to slippery roads and poor visibility. If you meet with an accident, the insurance company will cover the repairs and the medical expenses.
Lack of Insurance – What Does the Car Owner Face?
If a car owner does not have insurance and is involved in an accident, he will have to bear the entire cost of repairing his car and treating any injuries sustained by him or his passengers. If the accident is serious, he may also have to face legal action from the other party involved in the accident. If his car is stolen, he will have to bear the entire cost of replacing it. It is advisable to have car insurance even during monsoons.
Essential Car Insurance Cover for Monsoon
Engine Protection Rider Option: Your comprehensive car insurance policy might not cover engine damage caused by waterlogging. This can be a costly affair to get your car engine fixed. To avoid this, you can opt for an engine protection rider when renewing your car insurance policy.
Hydrostatic Lock Rider Option: A hydrostatic lock rider is an add-on cover that takes care of the repair expenses arising out of a hydrostatic lock. A hydrostatic lock occurs when water enters the engine and prevents it from starting. This rider is an affordable option that can be added to your car insurance policy.
Zero Depreciation Rider Option: Most car insurance policies have a depreciation clause that reduces the claim amount by a certain percentage. This applies to parts that are made of plastic, rubber, and fiber. To avoid this, you can opt for a zero-depreciation rider. This rider covers the cost of parts without any depreciation deduction.
More Essentials to Learn
No-Claim Bonus: Monsoon is the time of the year when cars are more prone to accidents. If you have not made any claims in the past year, you become eligible for a no-claim bonus. This can be as high as 50%. This means you will have to pay less premium the next time you renew your policy.
Free-Look Period: Always thoroughly the policy document before buying a car insurance policy. If you are not satisfied with the terms and conditions of the policy, you can cancel it within 15 days of buying it, provided you have not made any claims.
Discounts on Renewal: Some insurers offer discounts on renewals if you have not made any claims during the policy period. This is a good way to save on premiums.
As we all know, monsoon is the season of heavy rains and gushing winds. There are several reasons why your car needs insurance during monsoons. The most important reason is the high risk of flood and water-logging. If your car is not insured and it meets with an accident or gets damaged in a flood, you might have to shell out a lot from your pocket.