carelifewithus
M
T
R
INSURANCE
Motor insurance is mandatory fall the vehicles that are playing on the road. Its main objective is to give complete protection against physical damage or loss from natural and man-made calamities.
Menu
What is Motor Insurance?
Motor insurance is just like any other insurance policy, but unlike other insurances, it is ‘Mandatory’! And, as the name suggests, it is an insurance that is related to all types of motor vehicles-motorcycles, cars, jeeps, commercial vehicles etc.
Motor insurance has been made mandatory by the government for your safety and the safety of others. And the yearly premium you pay is just a meagre sum when compared to the advantages it has to offer you in case of, god forbid, any mishap.
Here’s yet another misconception many people have, Motor Insurance covers only the motor vehicle. Wrong again!
So first, let’s start with the types of Motor Insurance policies, and by and large what they cover! Motor insurance can be classified on 2 things
- The type of vehicle for which you are taking insurance
- The amount of coverage that you want to cover your vehicle for
So, what are the different types of vehicle insurances in India based on the type of vehicle owned?
Types of Motor Insurance in India
Two-Wheeler
Insurance Policy
Two wheeler insurance is an insurance policy required to provide protection to your two wheeler against any damage which might result in to a financial loss. In addition to it, any third party liability which has arisen due to the use of your two wheeler is covered under two wheeler insurance. As per the Motor Vehicle Act, it is mandatory to buy a Liability only policy without which one cannot use the vehicle on road.
Private Car
Insurance Policy
Auto insurance is an agreement between you and your insurance company that can cover your car, damages you cause if you hit someone else, and other events. When you get car insurance, you’re buying “coverages,” which are essentially things your insurer agrees to pay for.
Commercial Vehicle
Insurance Policy
A commercial auto insurance policy covers risks such as bodily injury or death caused by the use of the vehicle. A commercial auto insurance policy covers risks such as damage to a property caused by the use of vehicle. A commercial auto insurance policy covers different types of external damages to the vehicle.
Types of Motor Insurance Policies in India
Comprehensive
Comprehensive insurance is a coverage that helps pay to replace or repair your vehicle if it's stolen or damaged in an incident that's not a collision. Comprehensive, sometimes called "other than collision" coverage, typically covers damage from fire, vandalism or falling objects (like a tree or hail).
Third-Party
Third-party insurance is essentially a form of liability insurance purchased by an insured (first-party) from an insurer (second party) for protection against the claims of another (third party). The first party is responsible for their damages or losses, regardless of the cause of those damages.
Motor Insurance Policy,
Types & Coverage
Add-ons with Comprehensive
Motor Insurance Policy
Get better coverage for your car with these add-on covers available with Comprehensive Car Insurance policy.
Zero Depreciation
If your car is less than 5 years old, get this cover to avoid paying for the cost of depreciation during your car insurance claims.
Breakdown Assistance
We all need a little help sometimes! That’s why we have this cover to help you out in situations where you need a helping hand.
Passenger Cover
Your comprehensive car insurance already covers for you but why not protect for the person riding with you, too?
Engine & Gearbox Protection
A car insurance will only cover for engine or gearbox damage when it happens in an accident but, this cover lets you protect your engine and gearbox in all possible situations.
Tyre Protect Cover
Similar to an engine gearbox cover. Except this one covers and protects for your tyre in all possible situations, apart from just an accident.
Consumable Cover
Every small thing makes a difference. That’s why, this cover is dedicating to protecting all your car’s nitty-gritties such as engine oils, screws, nuts and more, regardless of any accidents.
What’s Not Covered?
It’s true that a comprehensive car insurance gives your car 360-degree protection but here are some exceptions.
Driving Drunk
Any claims made in a situation where you were driving drunk won’t be considered.
Driving without a License
You can’t make claims if you were driving without a valid driver’s license.
Add-ons Not Bought
This is pretty obvious, isn’t it? In case you haven’t bought a particular add-on you can’t claim for its benefits!
Consequential Damages
Consequential damages are those that take place after the accident. Unless covered for in an add-on, such damages can’t be covered.
Driving without a valid License Holder
In case you have a learner’s license, you should be driving with a valid license holder. Your car insurance won’t cover for you otherwise.
Contributory Negligence
To simply put it, don’t do things you aren’t supposed to! For example; if there are floods in your city, don’t take the risk and take your car out. Listen to your manufacturer’s manual cause such negligences can’t be covered!
Benefits of a Comprehensive Car Insurance
Saves Money
You don’t realize how much even small repairs can cost until something suddenly happens to your car! Protecting your car with a comprehensive car insurance ensures dents on your car don’t lead to dents in your pocket!
Covers you Legally
People are often under the wrong impression that they need a third-party car insurance to drive legally. However, a comprehensive car insurance already includes and covers for third-party damages and hence ensures you can drive legally too 😊
Complete Coverage for your Car
A comprehensive car insurance gives you the maximum amount of coverage your car can get. Especially, with customizable add-ons available, you can protect your car from all possible situations.
Who should buy a Comprehensive Car Insurance?
The New Car Owner
Buying a new car is almost like a milestone for most people. After already spending so much on your new car, the least you should do for your car and your peace of mind is protect it with a comprehensive cover.
The Fancy Car Owner
If you’re one of those who owns a stunning BMW or Audi, you should definitely opt for a comprehensive car insurance that won’t only protect your car from damages and the risk of thefts but, will also save your pocket from any other unexpected losses!
The One Who Lives in the Big Bustling City
Driving in bigger, metro cities always has its own set of risks given the rise in traffic, accidents and even pollution. Therefore, to be on the safer side it’s always better to protect your car with a comprehensive car insurance.
The Overprotective Car Parent
It’s okay to feel a little possessive about your dear car. Sometimes, even a small scratch can hurt! If you’re someone who is picky about anything happening to your car, then this goes without saying- that you need a comprehensive car insurance!
The Clumsy Driver
We’re a little a clumsy sometimes but some of us, maybe more than the rest! If you’re someone who’s always prone to little accidents and mishaps, then it’s better you opt for a Comprehensive Car Insurance that will help you and your car in all them clumsy situations!
The Road Tripper
If you often take the country down by road then getting a comprehensive car insurance is almost compulsory! After all, the last thing you want while traveling is unexpected losses. Besides, a comprehensive cover also lets you opt for breakdown assistance, that you could benefit from while traveling across the country.
Why should you upgrade to a Comprehensive Car Insurance?
To ensure your car is protected too! More often than not, people make the mistake of only getting a third-party car insurance only because it’s cheaper. However, what they don’t realize is that even in the case of a small accident and damages to one’s own car, they’ll have to shell out money from their own pocket. Instead, just spend a little more on a comprehensive car insurance policy and be relieved from any unexpected expenses!
Stay in touch
Sign Up to Our Newsletter
Please fill out the form below to be added to our newsletter mailing list to receive valuable information. We provide our customers with the occasional email filled top to bottom with useful information and exclusive deals.
*Subject to conditions. Applicable on the Own Damage component and inclusive of ge and profession discount under the plan.