Motor Insurance

A motor insurance Just as you would insure any of your prized possessions, you would also insure your vehicles (two-wheeler or three-wheeler) to secure it against damage, theft, natural calamities, fire and so on.

A motor insurance is a type of insurance cover that allows you to insure a commercial or a personal use vehicle. According to motor vehicles act 1988, it is mandatory for owners of cars and commercial vehicles to have a third-party insurance cover for vehicles driven on public roads. In case you own a vehicle that has a high-value, your insurance cover shields it against loss due to theft or road accident.

Types of motor insurance:

Third-party liability cove:

In this, the insurer provides cover for the damages caused by you, to a third-party. In case of accidents, this type of insurance covers all damages to the third party or to their vehicles and its accessories. However, it only covers the injuries or the damage suffered by the third-party and not the policyholder.

Comprehensive motor insurance plan: This is a comprehensive insurance that compensates for the damages caused to a third-party as well as the damaged suffered by the policyholder. It also insures the buyer against damages due to natural calamity or man-made causes.

Motor Insurance

Motor Insurance

Motor Insurance

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