Always wear your seatbelt and avoid driving under the influence
1)What is motor insurance?
Motor insurance offers protection to the vehicle owner against:
(i) Damages & Theft to his/her vehicle and
(ii) Pays for any 3rd Party Liability determined as per law against the owner of the vehicle. Yes, However 3rd Party Insurance is Mandatory in india. Driving a motor vehicle without insurance in a public place is a punishable offence in terms of the Motor Vehicles Act, 1988.
2)Why do we need motor insurance?
Indian roads are the most congested roads in the world.cities like Bangalore, Hyderabad are full of bumper-to-bumper traffic.Our drivers are also not well trained. Lots of time they dont maintain distance between two vehicles, overtaking, Drink & Drive and Rush Driving is also a major factor for accidents.
India ranks among countries that have the highest number of accidents on a yearly basis;
So motor insurance is a basic need offering protection to the vehicle and saving money at uncertain events.
3)How many types of motor insurance policy are available?
There is Two Types of Motor Insurance Policy Available:
Liability only Policy or 3rd Party Insurance.
Comprehensive Policy or Package Policy
4)Difference between comprehensive cover and 3rd party cover policy?
A 3rd Party Cover is a basic insurance policy which covers only damage caused to a third party by the vehicle.
Comprehensive car insurance is a complete car protection insurance policy. includes damage to vehicle, loss and theft of vehicle as well as third party cover.
5)What is not covered under a motor insurance policy?
The following are not covered under Motor Insurance:.
-Normal wear and tear and general ageing of the vehicle
-Depreciation or any consequential loss
-Mechanical or Electrical Breakdown
-Loss/ damage due to war, mutiny or nuclear risk
-Damage caused by person under influence of alcohol, drugs and any other intoxicating substance
-Damage caused by person driving without valid driving license
-Loss damage outside India (If Geographical Extension not taken)
Insurance companies we work with:
Bajaj Allianz General Insurance Co. Ltd
HDFC ERGO General Insurance Co. Ltd
IFFCO-TOKIO General Insurance Co. Ltd.
ICICI Lombard General Insurance Co. Ltd.
Liberty General Insurance Co. Ltd.
National Insurance Co. Ltd.
SBI General Insurance Co. Ltd.
Tata-AIG General Insurance Co. Ltd.
The New India Assurance Co. Ltd.
The Oriental Insurance Co. Ltd.
Universal Sompo General Insurance Co. Ltd.
United India Insurance Co. Ltd.
Acko General Insurance Ltd.
Go Digit General Insurance Limited
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