Dear User, error(s) occurred while validating. Please correct the fields marked in red below.
|
What is Motor Insurance ?
Motor Insurance is fundamentally a contract between a vehicle owner and an
insurance company in which you pay a fixed amount (premium) for a policy that will
give you financial protection against losses if the insured vehicle is stolen or
damaged. Motor insurance covers theft of vehicle, damage to vehicle, damage that
your vehicle causes, plus protection against liability in case you are sued after
an accident.
- Third Party Liability only cover
- Third Party Liability and theft cover
- Comprehensive cover including third party liability, theft and own damage
Why go for Motor Insurance ?
Under India Motor Vehicles Act 1988, it is mandatory to have Motor insurance to
drive on the road. Every type of vehicle including personal, commercial or business
purpose should be insured. Also, it saves you financially in case of any unwanted
happening. It covers following risks:
- Fire, explosion, self-ignition or lightning
- Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone, Hailstorm
- Burglary, housebreaking or theft
- Riot and strike
- Earthquake (fire and shock damage)
- Accidental external means
- Malicious Act
- Terrorist Activity
- Whilst in transit by road, rail, inland waterway, lift, elevator or air
- Landslide, Rockslide
Suitable for
This policy is suitable and also mandatory for everyone owing a vehicle.
Premium saving tips
If you do few things right, then you can get affordable motor car insurance. Here
are a few tips:
- Take time to research and be certain to choose the right motor car insurance
policy.
- Ask your insurance agent to explain all the points in a plain and simple language.
- Obtain quotes from different motor insurance companies and compare prices
and features. You may find an affordable car insurance policy with better
coverage.
- Always demand a discount.
- Buy online motor car insurance. There are dozens of online insurance aggregator
sites from where you can get quotes from almost all insurers. The advantage of buying
online is that you can get good discounts and also you can get it instantly.
Tax Benefits
No, you can’t avail any tax benefits from Motor Insurance.
|
|
|
|
|
|
|