Types of Motor Insurance Coverages in India

Buying a new vehicle is very exciting, as it is your prized possession. You will always choose the best one for you as per the brand you prefer, color, and the configuration of its accessories. Many people also have an emotional connection with their vehicle. Even a single scratch is a reason for grief for them. Bigger damage can mean not just emotional hurt but also a financial loss for a car owner. This can be avoided or reduced to a large extent using motor insurance.

Vehicle insurance is the insurance policy that covers your vehicle against financial losses that you might face if there is any physical damage to your vehicle. You only need to pay a certain amount to the insurance company as a premium for purchasing this insurance cover. Determine your premium using the online motor insurance calculator. In India, every vehicle that runs on Indian roads must be covered under an active insurance policy.

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There are different types of vehicle insurance in India:

  • Car Insurance
  • Two-wheeler insurance
  • Commercial vehicle insurance
  1. Car insurance

Car insurance covers the damages and theft to your car in case of physical harm, theft, and accidents. The protection offered is in the form of financial cover

that the insurance company provides to your car while buying an insurance policy. Third-party insurance is mandatory in India, according to the law. This insurance cover offers protection to the third-party, that is, anyone apart from the insurer. It is also good to be protected in the best possible way. Hence, purchase car insurance to protect your car completely.

  1. Two-wheeler

Two-wheelers are observed to be more prone to accidents when compared to four-wheelers. Most of the death recorded in case of road accidents are bike riders. If you want to be assured that your bike is protected against all damages that are caused due to accidents as well as natural calamities, get your two-wheeler insured. Two-wheeler insurance policies fall under the general insurance category. A company provides insurance cover for a vehicle in exchange for a certain premium cost.

  1. Commercial vehicle insurance

Commercial vehicle insurance is offered to vehicles that are used for commercial purposes like trucks. The insurance provider provides the cover to the commercial vehicles from theft, loss, damage from a natural disaster, accidents. The premium that is payable for the insurance will depend on the price of the vehicle. The cover that is provided will depend on the insurance company you’ve opted for.

Maintain your vehicle in a roadworthy condition. Make sure to keep all the insurance-related documents with you. Do not forget to always keep your driving license with you when you drive any vehicle, whether it is a car or bike. If someone else is driving your vehicle, ensure they have a driving license. Never drink and drive because if there is any accident, then the insurers won’t pay you a single penny. If an accident occurs where a third-party gets injured, make sure you immediately take them to the hospital.

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