Car insurance in India: Introducing of a Safer World

Car insurance in india is a must have in hand for all car owners. The motor plan coverage in india will help you handle eventualities in your stride. Insurance auto in india is widely available with many reputed organizations these days.

Either way, you should be prepared for it.

Cars under service can go for hefty expenses. Most of the people cannot afford or do not want to pay the high prices for auto parts. One time service can cause few thousands of rupees. Having a proper coverage can help one to meet these expenses anytime.

Motor Plan Coverage in India

Motor vehicles are subject to natural calamities like fire explosion, self ignition or lightning, earthquake, hurricane, typhoon, flood, storm, inundation and cyclone and manmade calamities like burglar, theft, strike, riot, any other damage in transit, etc. Therefore, motor insurance plan in India covers against any loss or damage caused to the vehicle or its accessories due to these. No wonder insurance is the norm in the automobile industry and every car has to go for one.

In India, we have motor plan coverage for compulsory personal accident cover for the owner of the vehicle while driving, personal accident coverage for passengers and third party legal liability. There are many insurance companies that offer these plans. Generally, cars are insured at a fixed value known as Insured Declared Value (IDV). Manufacturers’ listed selling price is taken to calculate the IDV. The listed price of accessories, if any is also included in it. While arriving at the final value, other things like depreciation for the vehicle is also calculated and deducted.

Motor Policy in India

The motor policy in India covers all types of vehicles that ply on the road. They are scooters and motorcycles, all types of commercial vehicles, private cars and vehicles that are in showrooms and garages. Under the Motor Vehicles Act, 1988, there are two types of policies. They are:

1. Liability only policy: This policy covers liability for bodily injury or death and property damage to the third party. However, it also includes personal accident coverage for the owner-driver too.

2. Package policy. This is a comprehensive coverage policy that covers loss or damage to the vehicle insured other than the third party liability.



Auto Policy in India

India is home to the fastest growing automobile industry. Today, we can find the big names in the automobile industry like Mercedes Benz, BMW, Audi, Porsche, and so on vying with each other to find their place in the market. Like cars so is the insurance for cars. Auto insurance in India has gone one step further by offering the best insurance cover at the affordable premium. They also offer discounts for the vehicle that have additional safety measures and are very well taken care of. Different factors determine the premium for car insurance in India. They are cubic capacity, normal area of operation, usage and the value of the vehicle.