Do female automobile owners need additional auto insurance coverage?

Women drivers can benefit from Pay How You Drive (PHYD) plans because they are typically safer drivers than men, which results in cheaper insurance premiums.

206 million driving license were given in India that year, and 6.8% of those were to women, according to the most recent data from Statista. According to a number of studies, women are generally safer drivers than men because they are more careful and less prone to exhibit unsafe driving behavior. Although women drivers are less likely to be involved in collisions, they can still gain from extra safety measures when driving.

Although third-party insurance is required for all automobile owners, comprehensive motor insurance that also covers damage to the owner's vehicle and third-party liabilities is always advised. Comprehensive auto insurance could not, however, pay for all damage-related costs. In this situation, policy add-ons can save the day by providing better coverage. There are a few vehicle insurance add-ons that should be taken into account, especially for female drivers.

For female primary wage earners

The daily allowance cover is an add-on that covers your journey to work in the event that your car breaks down and needs to be repaired. Women who are sole providers for their families or are single mothers will find this addition useful.

Usually for a two-week period, it offers an amount of up to Rs500 to cover daily transportation expenses. However, depending on the insurer, the amount and length of the coverage may vary. Those who just use one vehicle will find this option to be quite helpful. It's vital to remember that this add-on is only applicable if your automobile is being fixed at a shop that is part of the network of your insurance provider.

When going alone, safety

All drivers should have roadside help, but women especially should. Anywhere, at any moment, a car can break down, and if it does so in the middle of nowhere, it can be very inconvenient for female drivers. In the event of a breakdown, flat tire or other mechanical issue, roadside assistance coverage can offer aid, preventing women from becoming stuck and unable to seek assistance in a strange location.

Women should consider the quantity of coverage that would be suitable for their particular needs and circumstances with their insurance provider.

Being a safe driver is rewarded

Pay How You Drive (PHYD) plans use telematics devices that are installed in the car to monitor the driver's driving habits. PHYD is especially helpful for female drivers because they typically drive more safely than men, which results in cheaper insurance costs.

The PHYD model tracks drivers' driving patterns and offers premium discounts in exchange for safe driving practices. Women who obey traffic laws and drive defensively will ultimately pay less for their insurance than those who break the law or go above the posted speed limit. By compensating drivers who adopt safe driving practices, this addition contributes to the maintenance of road safety.

Protection for priceless items

Women who regularly drive to work and bring valuables with them can benefit from the "Personal belonging cover" add-on. Comprehensive automobile insurance packages may pay for any automotive damage, but they do not cover the cost of lost or stolen personal property. Up to a certain maximum, this plan offers coverage for loss or damage to personal property held within the vehicle.

It's vital to remember that this add-on has a couple of its own exclusions. Any incident that happened as a result of the policyholder's carelessness. claims relating to a piece of collateral. items left in the car overnight that were personal. objects lost as a result of an automobile accident.

Only pay for the actual distance you travel

Although Pay As You Drive (PAYD) is technically not an add-on, it is a comprehensive package that is highly suggested for female drivers. It enables the policyholder to pay the premium based on how frequently they drive. According to requirement, one can choose from predetermined distance slabs like 2,500 km or 5,500 km and pay the charge in accordance with those. As an alternative, one can opt for a model that allows them to turn off their insurance when their car is not in use, so lowering the cost.

Women who work from home or in a hybrid arrangement, or who don't drive frequently and favorable cabs or public transportation, perform well with this option.

Before making a choice, it is often advisable to evaluate several possibilities online. Before you purchase any plan, make sure to carefully read the policy fine print.

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