What is Motor Insurance ?

Motor Insurance is fundamentally a contract between a vehicle owner and an insurance company in which you pay a fixed amount (premium) for a policy that will give you financial protection against losses if the insured vehicle is stolen or damaged. Motor insurance covers theft of vehicle, damage to vehicle, damage that your vehicle causes, plus protection against liability in case you are sued after an accident. Third Party Liability only cover Third Party Liability and theft cover Comprehensive cover including third party liability, theft and own damage Why go for Motor Insurance ? Under India Motor Vehicles Act 1988, it is mandatory to have Motor insurance to drive on the road. Every type of vehicle including personal, commercial or business purpose should be insured. Also, it saves you financially in case of any unwanted happening. It covers following risks: Fire, explosion, self-ignition or lightning Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone, Hailstorm Burglary, housebreaking or theft Riot and strike Earthquake (fire and shock damage) Accidental external means Malicious Act Terrorist Activity Whilst in transit by road, rail, inland waterway, lift, elevator or air Landslide, Rockslide