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According to the Motor Vehicle Act, vehicles on the road in India must have at least third-party liability insurance. Riding without insurance will result in a fine or imprisonment.
It covers the cost of repairing the car in case of accidents or damages caused by natural disasters, such as floods, earthquakes, or storms. It also provides compensation in case of theft or loss of the vehicle.
It also covers legal and financial liabilities due to injuries or damages caused by third parties in an accident.
It offers financial compensation to the owner or driver in the case of accidental death or permanent physical disability. Also helps in securing the family's financial stability in unfortunate situations.
In India, with an increase in the number of vehicles on the road and plenty of traffic, getting insurance is not an option but a necessity for our own security.
It ensures that car owners and drivers can drive around without any stress, knowing they will be covered financially in an emergency.
In this case, the insurance policy pays for the damages caused to the third party or their property in case of an accident. Third-party insurance is compulsory in India. It does not pay anything to the insured in case of damages.
It is comprehensive insurance that covers both parties involved in the accident. It is applicable for vehicles that already have third-party insurance. It is best for drivers who want to add extra coverage to their car. It also provides flexible coverage.
It is insurance that covers a long period of time, usually 2-3 years without any renewal. Its biggest advantage is that it evades yearly renewal hassles. It also sometimes comes with a premium discount.
This only covers the damages to the insured and his vehicle. It is applicable to vehicles that already have third-party insurance. It also provides flexible coverage to the insured.
Zero depreciation cover, Engine protection cover, Roadside assistance, Return of invoice, NCB ( No Claim Bonus).
This new and advanced policy allows car owners to pay a premium based on the kilometers they drive. This policy is best for people who use their cars very little and is cost-effective. It also encourages responsible driving habits.
Whether you’re new to insurance or looking to deepen your understanding, this resource covers everything from the basics of policy types and coverage options to claims processes and premium details.
There are two main types: Third-Party Liability Insurance and Comprehensive Car Insurance, which includes own-damage cover.
IDV is the current market value of your car, which determines the maximum sum insured in case of theft or total loss.
Engine damage is not covered under standard policies but can be included through an Engine Protect Add-On.
You can get coverage for
additional accessories by opting for a specific add-on.
The premium is calculated based on factors such as the car's IDV, age, model, location, and the type of policy chosen.
