For your safety and the safety of others, the government has made motor insurance necessary. Furthermore, the yearly premium you pay is negligible in comparison to the benefits it provides you with in the event of, god forbid, any disaster.
Another common misunderstanding is that only motor vehicles are covered by motor insurance. Mistake again!
Let's begin by discussing the different motor insurance policies and what they cover. Two categories can be used to categorize auto insurance.
What kind of vehicle do you have insurance for? The degree of protection you wish to provide for your car. So, based on the type of vehicle possessed, what are the many types of vehicle insurance in India?
Type of motor insurance in India
Personal Auto Insurance
The Government of India requires this type of motor insurance to be purchased for any private vehicles an individual owns. It includes coverage for theft, natural catastrophes, accidents, fire, and other damages, as well as any injuries to the owner. Injuries and damages to third parties are also covered.
Two-Wheeler Policy of Insurance
The Indian government requires the purchase of this insurance coverage, which covers two-wheeled vehicles like scooters and bikes. The two-wheeler is protected from damage caused by mishaps, catastrophes, fire, theft, etc., and any damage or harm to third parties. It also provides a personal accident insurance option that is required for the owner rider and is available for passengers.
Insurance for Commercial Vehicles
This insurance covers all non-personally used automobiles. This insurance type covers any automobiles that are not driven for personal purposes. These vehicles covered by this insurance include trucks, buses, heavy commercial vehicles, light commercial vehicles, multi-utility vehicles, agricultural vehicles, taxis/cabs, ambulances, auto rickshaws, etc.
India's various types of motor insurance policies
Third-Party
Third-party insurance, which only covers losses and damages to third-party people, cars, or property, is one of the most often used types of auto insurance.
Comprehensive
Comprehensive auto insurance, which also protects against third-party liabilities and damage to your vehicle, is among the finest options.
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