Liberty Comprehensive Car Insurance Policy
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Liberty Comprehensive Car Insurance Policy
A comprehensive car insurance policy is an essential requirement these days considering the fact that car repair costs are extremely high these days. The comprehensive car insurance policy offered by Liberty General Insurance frees you from bearing financial liability of damage incurred by your car in any road accident, theft, fire, natural/man-made calamity or any other mishap. It also provides an insurance against third party liabilities arising out of any unfortunate event involving your car.
Liberty General Insurance also offers optional personal accident covers of up to Rs. 15 lakh and up to Rs. 2 lakh with its comprehensive policy for the policyholder and unnamed co-passengers respectively.
Liberty Comprehensive Car Insurance Vs Third Party Car Insurance
|
Basis |
Comprehensive Car Insurance |
Third Party Car Insurance |
|
Coverage |
The Liberty comprehensive car insurance policy offers compensation for damages caused to the insured vehicle as well as injury/death of a third party and a maximum of Rs 7.5 lakh reimbursement for third party property damage. |
The third party liability only policy has basic coverage, which is limited to compensation for injury/death of a third party and third party property damage (up to Rs 7.5 lakh). |
|
Add-ons |
A number of add-on covers such as Zero Depreciation Cover, Consumables Cover, etc. are available with the comprehensive car insurance policy. |
No add-on covers are available for purchase with the third party liability only policy. |
|
Cost |
Comprehensive plan is generally expensive due to extensive coverage. |
Third Party only policy is relatively cheap as it has limited coverage. |
What All Is Covered Under Liberty Comprehensive Car Insurance Plan?
Liberty comprehensive car insurance policy provides coverage for the following aspects:
- Unlimited liability cover in case of death of a third party.
- Compensation of up to Rs 7.5 lakh for third party property damage.
- Own Damage to the vehicle caused by an external means such as natural or manmade calamities, road accidents, theft or any other unintentional event.
What All Is Not Covered Under Liberty Comprehensive Car Insurance?
Liberty comprehensive car insurance policy does not provide coverage for the following cases:
- Normal wear and tear
- In case of willful negligence
- Driving without a valid licence
- Mechanical or electrical breakdown
- Any damage caused due to contractual liability
- Driving under the influence of alcohol or intoxicating drugs
- Damage occurred during war, nuclear risk, mutiny rebellion or any such situation.
Liberty Comprehensive Car Insurance Benefits
Liberty comprehensive car insurance plan provides several benefits to the policyholders which are discussed below:
- Option to pay premiums and renew the policy online.
- Availability of a number of add-on covers against extra premium.
- Transfer of existing No Claim Bonus from any previous insurance provider.
- No Claim Bonus discount on own-damage premiums of up to 50% for claim-free years.
- Reimbursement up to Rs. 1,500 on towing charges in the event of damage of the insured car.
- Policy cover for the vehicle and coverage of all third party liabilities including the third party property damages.
- Availability of optional personal accident cover of up to Rs. 15 lakh and Rs. 2 lakh for policyholder and unnamed co-passengers respectively.
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Liberty Comprehensive Car Insurance FAQs
What is compulsory deductible?
Compulsory deductible is the amount that a policyholder is liable to pay to the insurer at the time of a claim settlement. The amount varies with the type of policy purchased.
How can I purchase the Liberty comprehensive policy online?
To purchase the Liberty comprehensive car insurance policy online, follow the below-mentioned steps:
- Visit Liberty General Insurance’s official website.
- Go to the ‘Car Insurance’ tab and then click on the ‘Buy Now’ option.
- Enter your vehicle’s registration number, your full name, mobile number and email address in the respective fields and click on ‘Next’.
- The premium quote will be displayed on the next page where you opt for the add-ons.
- Pay the premium amount and the policy document will be sent to your registered email address.
How is IDV of my vehicle is decided?
IDV stands for the Insured Declared Value of your vehicle and is decided on the basis of the ex-showroom price of your car as listed by its manufacturer. It is important to note that the IDV determines the maximum insured sum of your car insurance policy.
How can I get my car's engine covered against oil spills and water ingression?
No mechanical/electrical breakdown of your car's engine is covered under the standard comprehensive policy. You can get these things covered by purchasing an Engine Cover add-on.
What is the tenure for Liberty long term comprehensive policy?
The tenure for Liberty long term comprehensive policy extends from 2 years to 3 years.
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