• Car Insurance For Mahindra Xylo

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    The new Mahindra Xylo, launched by Mahindra and Mahindra, has a muscular look and has new decals and chrome highlights. Mahindra claims Xylo to be the most spacious and comfortable MUV in the market. The car is equipped with a powerful mHAWK engine and produces a 120 PS power and 280 Nm torque. It comes with a comfort drive technology and also has a voice command feature. The classy MUV has electric ORVMs, a tilt steering feature, and an intellipark reverse assist facility.

    If you’re looking to buy a Mahindra Xylo, you will also have to buy a car insurance policy. According to the Motor Vehicles Act, 1988, it is mandatory for every car owner to purchase a car insurance policy. If an individual does not purchase or does not renew the car insurance policy and he/she is caught by the traffic police, heavy fines will be levied on him/her. In order to comply with the act, as well as get good insurance coverage for your car, buy a car insurance policy when you buy your Mahindra Xylo.

    Read further to understand the types of car insurance plans available in the Indian market and what are the inclusions and exclusions of each of these plans.

    Car insurance plan types in India

    India is home to several general insurance companies that offer abundant car insurance plans. The car insurance plans available today are broadly classified into two types – third-party liability insurance plan and comprehensive plan. Car owners are required to buy at least a third-party liability plan, as per the prevailing law.

    Third-party liability insurance

    A third-party liability car insurance policy offers coverage for any injury suffered by a third party or damage caused to the third party’s vehicle. If a person is held legally liable for any damage suffered by a third person due to a road accident, he/she can register a claim under his/her policy to pay for the expenses incurred on treating the third person or fixing his/her vehicle. In this scenario, the first person is the insured individual and the second party is the insurance company. A few insurance companies usually offer a compensation in case the third person passes away due to the accident.

    Comprehensive insurance

    A comprehensive car insurance plan is one which provides coverage for not only third-party liability damages but also own damage. It also offers coverage against damage caused by an unforeseen circumstance such as a natural calamity or a man-made situation such as riots and vandalism.

    Inclusions and exclusions of car insurance plans in India

    The inclusions and exclusions of the two types of car insurance plans are given below:

    Inclusions

    Third-party liability insurance Comprehensive insurance
    • Damages caused to a third-party vehicle
    • Damages caused to third-party property
    • Injuries caused to a third-party individual
    • Death of a third person
    • Third-party damage
    • Damage caused to own vehicle due to a natural disaster or severe weather
    • Damage caused to own vehicle by falling objects
    • Damage caused to own vehicle by fire or vandalism
    • Compensation for theft of the vehicle
    • Damage caused to own vehicle by acts of civil disturbance

    Exclusions

    Third-party liability insurance Comprehensive insurance
    • Damages caused to own vehicle
    • Injuries suffered by the policyholder
    • Cost of belongings in the car damaged/stolen
    • Cost of own vehicle in case of theft or destruction
    • Depreciation
    • Mechanical or electrical breakdown
    • Wear and tear of the vehicle
    • Damage to tyres and tubes unless other damages are also caused to the vehicle
    • Damage caused to own vehicle by war, nuclear risks, or mutiny
    • Damage caused by a driver who is under the influence of drugs or alcohol
    • Damage caused to own vehicle when the driving person has no valid license

    Conclusion

    A third-party liability insurance policy is typically cheaper than a comprehensive insurance policy due to the added features in the latter. While you can purchase a third-party liability insurance plan to save on premiums and comply with the law, it is wise to purchase a comprehensive car insurance plan that offers protection to you and your vehicle against several unforeseen circumstances. Therefore, compare the many insurance plans available online and choose the plan that has good features and fits your budget too.

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