Motor Insurance

What Is Motor Insurance?

Motor insurance online provides financial protection against physical damage or cover for natural calamities and any loss or damages sustained by the policyholder in an unforeseen accident.

Motor insurance is mandatory for all two-wheeler and four-wheeler vehicles such as cars, bikes, scooters, trucks that are plying on the roads in India. Vehicle owners can avail motor insurance even for commercial vehicles as well.

Features of Motor Insurance

A vehicle insurance policy comes with several features that can be very beneficial for the policyholder. Here are some of those features that you should know about:

  • You can purchase motor insurance online in a hassle-free manner.
  • You can renew the insurance plan online at the comfort of your place.
  • You can add or remove any particular add-on as your requirement. You can do it while purchasing or renewing the insurance plan.
  • Motor insurance not only provides cover for the damages caused by an accident but also covers you from theft, natural calamity, fire damage, vandalism, manmade disasters, etc.
  • You can get the benefits of a cashless claim by providing enough evidence in case of accidents and theft.
  • Motor insurance also provides a No Claim Bonus feature. Under this feature, if you do not raise a claim during the policy tenure then the insurer will provide you with a specified discount either on the premium or on purchasing any other add-on. It varies from insurer to insurer.
  • Insurance companies keep on coming with different plans and add-ons to provide you better coverage as well as provide assistance in case you get stuck during the claiming process.

Types of Vehicles Covered Under Motor Insurance

Motor Insurance can be broadly classified under below heads:

  • Car Insurance

    Car Insurance gives coverage against accidental loss or damages to own car or a third party. While choosing a car insurance policy, a person should always compare the premium offered by various insurers to ensure that he got the best deal. The amount of premium would depend on the make & value of the car, state from where it is registered and the manufacturing year.

  • Two Wheeler Insurance

    Two Wheeler Insurance or bike insurance provides protection to bikes and scooters. It covers two wheeler vehicles against any own damages as well as any accidental loss caused to third party property or person. Similar to car insurance, the premium of a two-wheeler policy depends on the age of the bike, its make & model, registration year, etc..

  • Commercial Vehicle Insurance

    Commercial vehicle insurance helps all commercial vehicle drivers to reduce losses they might incur due to damage to their vehicle. Here commercial vehicles include those that are not used for personal purposes, like goods carrying vehicles, trucks, etc.