Unveiling the various motor insurances in India

If you are a first-time vehicle owner looking to buy motor insurance, it is best to proceed after having all your basic doubts clear. We will discuss the various types of motor insurance plans and policies available in India on this page.

What is a motor vehicle insurance?

Motor insurance, also known as vehicle insurance, is a type of policy that protects vehicle owners against third-party liabilities and other financial losses caused due to accidental damages. This policy is for different types of motor vehicles, including bikes, cars, commercial vehicles, etc. India’s Motor Vehicle Act makes having valid motor insurance for your vehicles mandatory. Without proper cover, it is illegal to operate a motor vehicle in public places in any part of the country. So, it is recommended to get vehicle insurance from the best motor insurance company in India.

Types of motor insurance available in India

Motor insurance in India can be generally classified into three groups, namely:

1. Private car insurance

As the name suggests, this type of motor insurance can be purchased for private-use four-wheelers owned by individuals, such as sedans, SUVs, hatchbacks, etc. Besides third-party liability cover, it can also protect against damages caused by theft, natural disasters, accidents, etc. Note that this policy type does not apply to cars used for commercial purposes. Want to insure your four-wheeler against contingencies on the road? Opt for car insurance from Zurich Kotak General Insurance.

2. Two-wheeler insurance

If you want to insure a two-wheeler, like motorcycles or scooters, you will need to purchase a two-wheeler motor insurance. In addition to third-party liability cover, it can also offer comprehensive protection against damages caused by accidents, theft, fire, etc., depending on the plan you pick.

3. Commercial vehicle insurance

Commercial motor insurance is specially designed for vehicles used for commercial purposes, such as vans, buses, trucks, etc. This policy, like the ones mentioned above, can also enjoy a similar level of coverage in addition to third-party liability.

Types of motor insurance policies offered in India

Now, based on of coverage types, motor insurance in India can be classified into two categories, namely:

1. Third-party motor insurance:

This is the most commonly picked motor insurance policy type in India. It offers the basic coverage required by the law, that is, third-party liability cover, where only the accidental losses and damages caused to a third-party individual, vehicle or property are covered.

2. Comprehensive motor insurance:

Comprehensive car insurance for motor vehicles is a bit expensive but a more value-for-money policy. It’s because along with third-party liabilities, this plan also covers accidental damages caused to the insured’s vehicle. It is the best motor car insurance in India in terms of coverage.

While the third-party plan is cheaper, it is recommended you consider investing in the comprehensive plan if you want the best coverage and value for the buck. Roads are very unpredictable, and it is wiser that you stay prepared for anything yet to come. Also, with comprehensive motor insurance, you can customise your policy with necessary add-ons to get the exact coverage you are looking for. Motor insurance companies in India offer both these policy types for sale.

Conclusion:

This concludes the main types of motor vehicle insurance available in India. Depending on your vehicle, usage type and coverage needs, you can choose a policy that makes the most sense. Get car and bike insurance from Zurich Kotak General Insurance at great prices.

Related blogs

Significance of a motor vehicle insurance policy

Factors That Determine Motor Insurance Premium

Benefits Of Car Insurance

A Guide to Understand The 8 Importance Terms in Motor Insurance