Former insures only the marins perlis
Two Wheeler Insurance
Motor Insurance
General Terms
Overview:
It is mandatory to take motor insurance policy for all vehicle owners as per Motor Vehicle Act 1988.It safeguard against accidental damage or theft of the vehicle and also safeguard against third party legal liability for bodily injury and/or property damage.It also provides Personal Accident cover for owner driver/ occupants of the vehicle.
Main Features
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.
No one can deny that buying a vehicle is the second most expensive investment in a person’s life after home. Thus, protecting the investment against unforeseen events is crucial. Considering the hike in the vehicle repair charges and the risks involved in driving, an unfortunate accident can put a big hole in your pocket.
The yearly premiums that you pay for the motor insurance policy are meagre as compared to the advantages and protection the coverage will offer you in case of mishaps. Though there are many misconceptions regarding the policy, it will most certainly compensate you against the physical damage that arises under different circumstances.
Highlights
Believe it or not, driving in India has many associated risks. Millions of people own a driving license, and there is at least one vehicle in the household. Vehicles have become a crucial means of transportation, eliminating people’s need to travel via public transport. At the same time, we also know that an increased number of private vehicles also increases the risk of road accidents and rule-breaking. Accounting for such factors, it becomes critical to own a vehicle insurance policy. Besides that, let’s review the primary reasons to buy a comprehensive motor insurance policy.
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Legal Requirement
The first reason is, of course, to follow the laws and regulations of the Government. A person should oblige to buy a motor insurance policy with minimum coverage before taking the vehicle out on the road.
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Third-party Damage Coverage
With sufficient coverage, you can pay f
What are the benefits of buying a insurance policy?
FEATURES OF A MOTOR INSURANCE POLICY
A vehicle insurance policy is composed of numerous features that are beneficial not only for the vehicle owners but also for other parties. The insurance companies allow a vehicle owner to keep their customers and others safe on the road by providing the following features.
- A hassle-free way to acquire motor insurance online with minimal efforts
- Avail comprehensive and third party insurance for complete protection
- Renew the insurance online without having to waste your time travelling or filling hard copies of forms
- Get proper coverage against natural and man-made calamities, including floods, earthquakes, theft, accidents, and vandalism.
- Include third-party liability coverage to compensate for the losses of other parties
- Making cashless claims is also easier by providing sufficient evidence in case of accidents and theft.
- Most companies have a network of garages where you can get repair work done and ask for an evaluation of the vehicle’s condition after mishaps.
- No claim bonus feature allows a vehicle owner to file a claim at any time and even offers transference to other insurers.
- All motor insurance companies offer dedicated assistance and customer support service to the customers to keep them updated regarding the motor insurance policy and claim status.
- Add-on features are also available to allow customers to add coverage in the policy at any point.
Eligibility
FEATURES OF A MOTOR INSURANCE POLICY
A vehicle insurance policy is composed of numerous features that are beneficial not only for the vehicle owners but also for other parties. The insurance companies allow a vehicle owner to keep their customers and others safe on the road by providing the following features.
- A hassle-free way to acquire motor insurance online with minimal efforts
- Avail comprehensive and third party insurance for complete protection
- Renew the insurance online without having to waste your time travelling or filling hard copies of forms
- Get proper coverage against natural and man-made calamities, including floods, earthquakes, theft, accidents, and vandalism.
- Include third-party liability coverage to compensate for the losses of other parties
- Making cashless claims is also easier by providing sufficient evidence in case of accidents and theft.
- Most companies have a network of garages where you can get repair work done and ask for an evaluation of the vehicle’s condition after mishaps.
- No claim bonus feature allows a vehicle owner to file a claim at any time and even offers transference to other insurers.
- All motor insurance companies offer dedicated assistance and customer support service to the customers to keep them updated regarding the motor insurance policy and claim status.
- Add-on features are also available to allow customers to add coverage in the policy at any point.
Advantages
Whether you are buying a private car, two-wheeler, or a commercial one, the types of motor insurance plans are broadly classified into two:
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Comprehensive Insurance Policy
With this policy, you can pay for damage to your vehicle as well as others, including motorbikes, private cars, scooters, and commercial vehicles.
- ✓
Third-party Insurance Policy
The third-party motor insurance policy is liability coverage that is uniformly applicable to all vehicles. As per the Motor Vehicles Act of 1988, third party car insurance and third party insurance for bike are compulsory for vehicles plying on Indian roads. Failure to comply with this rule would result in an individual to paying hefty fines according to the Motor Amendments Act, 2019.
- ✓
Pay As You Go
It is a new type of policy that allows the policyholders to pay by calculating the kilometres driven.
With these two motor insurance policies in consideration, the types of vehicle insurance are categorised as below.
Premium Chart
Frequently Asked Question
Whether you are buying a private car, two-wheeler, or a commercial one, the types of motor insurance plans are broadly classified into two:
- ✓
Comprehensive Insurance Policy
With this policy, you can pay for damage to your vehicle as well as others, including motorbikes, private cars, scooters, and commercial vehicles.
- ✓
Third-party Insurance Policy
The third-party motor insurance policy is liability coverage that is uniformly applicable to all vehicles. As per the Motor Vehicles Act of 1988, third party car insurance and third party insurance for bike are compulsory for vehicles plying on Indian roads. Failure to comply with this rule would result in an individual to paying hefty fines according to the Motor Amendments Act, 2019.
- ✓
Pay As You Go
It is a new type of policy that allows the policyholders to pay by calculating the kilometres driven.
With these two motor insurance policies in consideration, the types of vehicle insurance are categorised as below.
Other Plans
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