All You Need to Know About Personal Accident Car Insurance Cover


21 Jul 2023

Read All about Personal Accident Car Insurance Cover. For more information, check out the health insurance policy from Kotak General Insurance.

Luxury cars are all about comfort and fashion. They are prized possessions for some people and depict their sense of style. The prices of these cars usually fall in the upper brackets; hence, they need more comprehensive and inclusive car insurance. Car insurance is mandatory nowadays, irrespective of whether the cars are luxury segment cars or non-luxury segment cars.

A car insurance policy will ensure that if there is any car accident or damage to the car, the parts to be replaced are covered. This aids the owner in avoiding any major expenses for the vehicle in such unforeseen circumstances. What type of car insurance is more beneficial will always remain a tricky question. Take a look at some crucial points concerning luxury car insurance policies.

Some of the salient aspects to be verified before buying luxury car insurance are:

1. Comprehensive insurance coverage vs only third-party insurance:

Comprehensive insurance should be preferred over third-party insurance when buying luxury car insurance. This is because the spare parts, any parts damaged or stolen, are costly. This might cost you more expenses for one time, and thus comprehensive insurance should be chosen.

2. Coverage and add-ons:

While choosing the coverage and the add-ons, you have to be sure that the coverage has all the significant parts of the car covered. The service costs of luxury vehicles are also high-priced. Some of the services might be clubbed and offered to you as a package by the company. These should be thoroughly understood and evaluated. The add-ons also play a vital role in selecting an insurance policy. Some beneficial add-ons are - return to invoice cover, engine protection cover, roadside assistance, etc.

3. Comparing policies:

Comparing policies and the various advantages and disadvantages has become effortless in this age of fast internet connections. You can easily compare policies while buying car insurance. The premium charged and the coverage of the policies are factors that should be emphasised. After all, the customer should know what he is paying for.

4. Premium

Premium is the amount of money one must pay annually to continue the insurance policy. If the insurance premium is more for a policy, you can adjust the coverage and add-ons for the car insurance policy. For luxury cars, the premiums will generally be on the higher side. This is because the cost of the vehicles is more, and in case of any loss, the insurance company will have to bear the charges of it all.


As we know, third-party insurance coverage is mandatory in India, but there are no two views when luxury cars are involved. Opting for a comprehensive plan is more than necessary if you wish to avoid burning a hole in your pocket for any repair work done due to any unforeseen accident.

The above points can be kept handy, and insurance can be bought for luxury cars considering the tips given above. Your luxury car needs maximum protection, and a policy should be chosen accordingly.

Team Kotak GIC

The content of this blog has been created and carefully reviewed by the esteemed team at Kotak General Insurance, with the sole purpose of providing valuable guidance and sharing insights on the importance of general insurance. Our objective is to assist users in making informed decisions when purchasing or renewing insurance policies for their cars, bikes, and health. Our expertly curated information aims to empower our readers with the knowledge they need to protect their valuable assets and financial interests.