1. What is Motor Insurance?

Motor insurance is an insurance policy that covers the policyholder in case of financial losses – resulting from an accident or other damages – sustained by the insured vehicle. A comprehensive motor insurance policy covers damages to third-party and third-party property along with compensating for own losses as well.

2. Is Motor Insurance Mandatory in India?

According to Sec 146 of the Motor Vehicles Act, 1988, it is imperative that you purchase motor insurance prior to taking your vehicle out on the roads. Getting third-party policy coverage is the bare minimum that you are mandated to acquire for your vehicle to ply.

3. What Does The Insurance Cover?

• ✦ Damages and losses, resulting from natural calamities such as earthquake, floods, fire, lightning, landslide, hurricane, etc.
• ✦ Damages that result from human intervention, including burglary, theft, riots, strike or any other activity born of malicious intent.
• ✦ Third-party legal liabilities owing to damages (both bodily injuries and death) caused to third-party as well as financial losses to a third-party property.

4. What are the factors affecting motor Insurance?

• ✦ Type of cover
• ✦ Geographical Location
• ✦ Installed Safety Feature
• ✦ Ancillary modifications
• ✦ No claim bonus

5. Types of Insurance policy in India

• ✦ Third-Party Insurance

Third-party insurance is one of the most common types of vehicle insurance; in which only damages & losses caused to a third-party person, vehicle or property are covered.

• ✦ Comprehensive Insurance

Comprehensive insurance is one of the most valuable types of vehicle insurance that covers both third-party liabilities and damages to your own vehicle as well.

6. Add-ons with Comprehensive Motor Insurance Policy

• ✦ Zero Depreciation
• ✦ Engine Protection Cover
• ✦ Roadside Assistance
• ✦ Consumable Cover
• ✦ Return to Invoice Cover
• ✦ Tyre Protect cover