Motor insurance is a coverage which is bought for cars, trucks and other vehicles that play on roads. Its main objective is to give complete protection against physical damage or loss from natural and man-made calamities.
Motor insurance gives financial protection not only to you but it also covers third party damages.A few private insurers offer a large number of other utilities to the policyholders, like:
Motor insurance is a coverage which is bought for cars, trucks and other vehicles that ply on roads. Its main objective is to give complete protection against physical damage or loss from natural and man-made calamities.
Two wheeler insurance provides mandatory personal accident cover of Rs. 1 lakh to the insurer. This accident cover can also be opted for passengers. It also protects against legal liabilities arising due to third party’s injury/death or damage caused to its property.
This type of insurance covers all those vehicles which are not used for personal purpose. Trucks, buses, heavy commercial vehicles, light commercial vehicles, multi utility vehicles, agricultural vehicles, ambulances etc are covered under this insurance.
It covers third person who has been injured in an accident involving you and your car. The policy doesn’t provide any direct benefit to the insured. As per Insurance Regulatory and Development of India (IRDA), no insurer can decline to underwrite third party insurance.