Motor insurance covers all damages and impact in a vehicle against on-road and off road emergencies. A comprehensive policy even secures against damage caused by natural and human made calamities.
This benefit is governed by a central organization such as government agency or private business sector, and according to the Indian Health Insurance Association health insurance is defined as coverage that provides payment for benefits as a result of illness or injury. It includes insurance for accident, medical expenses, disability, or accidental death and loss of exclusion.
Motor insurance offers protection to the vehicle owner against:
- Damage to the vehicle
- It also pays for any third party liability determined by law against the Vehicle owner
Motor insurance is mandatory in India as per the motor vehicles act, and needs to be renewed every year. Driving a motor vehicle without insurance in a public place is a punishable offense. A motor insurance policy include personal accident and liability for third party insurance in addition to own damage cover of owner’s vehicle in one policy.
Common motor insurance include :
- Car Insurance
- Two Wheeler Insurance
- Commercial Vehicle Insurance
Some benefits of motor insurance include roadside assistance, cashless servicing at nationwide network of workshops and garages, personal accident cover and towing assistance