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Motor insurance, also known as car insurance or auto insurance, is a type of insurance that provides financial protection against damage to your vehicle, as well as liability for any injuries or property damage you may cause to others while driving your vehicle.
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Key Highlights Of Motor Insurance
A deductible is the amount of money that you need to pay out of your pocket before your insurer pays out for any damages
A no-claims bonus is a discount given by insurers if you have not made any claims during the policy period.
Comprehensive motor insurance provides wider coverage, including protection against damage to your own vehicle, theft, natural disasters, and more.
It covers you for any liability that you may incur for damage to third-party property or injury to third-party individuals in the event of an accident.
ABOUT MOTOR INSURANCE
Motor insurance is a vehicle insurance policy that is mandatory for vehicles like trucks, cars, jeeps, bikes, scooters, etc. This policy offers coverage to the vehicle owner/driver against financial losses that may occur due to accidents or other kinds of damages. Having valid motor insurance is compulsory in India to protect vehicle owners from potential financial risks. It is the best form of security that you can acquire to prevent significant expenses that result after an accident. The Government poses the compulsion for the safety of the individuals who travel via motor vehicles daily.
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Two Wheeler Insurance
Two wheeler insurance provides protection against third party liabilities arising from injuries to one or more individuals.
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Commercial Vehicle Insurance
Commercial vehicle insurance is a tailored insurance plan that provides coverage for the damage caused by or to the commercial vehicle.
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Insurance Can Be Investment
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Things To Consider While Buying
Motor Insurance
During the purchase, you need to account for the following factors to get the best rates on comprehensive coverage.
Coverage
Explore whether you need comprehensive coverage or third-party liability coverage on an urgent basis. In our opinion, it is always better to go with comprehensive vehicle insurance online.
Add-Ons
It secures you against pre and post-hospitalization expenses, ambulance, day-care procedures, domiciliary care, etc.
Personal Accident Cover
Always account for whether the policy you are buying will cover you in case of personal accidents or not.
Claim Procedure
Go through the claim process to figure out how complex the task can be if, at some point, you need to file a claim.
Garages
:All motor insurance providers have a network of garages where vehicle service and repairs are more affordable than local garages. You must consider them as the vehicle will need servicing more frequently as you travel.
Zero Depreciation Cover
:All motor insurance providers have a network of garages where vehicle service and repairs are more affordable than local garages. You must consider them as the vehicle will need servicing more frequently as you travel.
Why do you need motor insurance?
As the number of vehicles on Indian roads increases day by day, despite being a cautious driver, you are always at risk of being in a collision. And it's not just drivers’ negligence on the road, jaywalking pedestrians, stray animals on the highway, or trying to save kids running on the road. Accidents can happen anywhere, anytime. Understanding the motor insurance meaning will help you understand how having a motor insurance is imperative.
