Have you wondered about what is motor insurance?
We tell you, this is one of mandatory insurance under Indian laws (Motor Vehicles Act, 1988) if you have your own motor vehicle. Motor insurance helps you meet any unexpected expenses that may arise if your vehicle meets with an accident. It can also monetarily assist you in case of bike/car theft. Like other insurance policies, a motor insurance policy functions as a risk-mitigating tool. It protects you from creating a massive dent in your finances when you face an emergency.
We have cover your all types of vehicles like bike, scooter, car, taxi, commercial vehicles, construction vehicles and many more.
Types of Motor Insurance
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Third Party Car Insurance Policy
As per the Motor Vehicles Act, it is mandatory to avail a Third Party Cover. Without it, you will be driving your car unlawfully on the road and would result in a penalty and/or fine. This cover offers coverage against legal liability caused to a third party due to your car or vehicle. In simple terms, Third Party insurance covers injury or death caused to a third person by your vehicle along with damage caused to a property. Here’s one interesting feature of the cover. As per the Motor Vehicles Act, the claimant is not obliged to prove negligence of the driver that was responsible for the accident. As the name suggests, Third Party Insurance only covers third party liabilities. It does not cover damage to your vehicle or theft. Considering the nature of the cover, the premium is also low.
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Own Damage Car Insurance Policy
An Own Damage car insurance policy helps you stay covered against the damages caused to your car due to accidents like fire, theft, etc.
In case of an accident, an own damage cover compensates you for the expense to repair or replace parts of your car damaged in the accident.
This policy covers the cost of damages to your car due to Natural calamities like floods, earthquake, fire and more, Man-made calamities like vandalism, riots and terror attacks, Damage to your car or the belongings in the car in case of an accident, Theft or malicious acts -
Comprehensive Car Insurance Policy
With comprehensive car insurance, you get the benefits of Third Party Liability cover along with Own Damage coverage. As the name indicates, it offers in-depth, end-to-end protection for you and your car. The key feature of this insurance is that it covers theft of the car in addition to damage due to a number of reasons. If you have this cover and your car gets stolen, you can breathe easy knowing the fact that it will be covered. Comprehensive insurance covers a number of perils such as vandalism, fire damage, floods, damage due to natural calamities like tornado, wind storm etc, glass breakage (e.g. windshield), damage due to falling objects and so on. You can also amplify your protection with add-on covers such as Personal Accident cover, Electrical Appliances cover, Zero Depreciation cover and much more.
