In modern times, no technology except construction and telecommunications technology has left as much impact on human development as transportation technology has left. From the slow start of the nineteenth century to the global expansion of the twentieth century, the automotive sector has seen both rapid growth and change. The number of two-wheeler scooters, three wheelers, personal cars, commercial vehicles etc. has become so much in the world today that no one can think about their life without any vehicle.
Using any vehicle to travel anywhere is not only a part of our life but has become our daily routine. While these vehicles are necessary for commuting, on the other hand, they also become the cause of some dangers which can be physical and money related. Therefore, in relation to any vehicle accident involving loss of vehicle or third party liability etc., safety has become a very important requirement. A good auto insurance will not only help in protecting your money but will also provide you the necessary protection in such accidents. A comprehensive motor insurance plan protects you from financial liability in the event of loss of vehicle.
If the security is not taken properly, then the owner of the vehicle may find himself in a big financial trouble in an adverse situation. So let’s know what motor insurance can help in such a situation? In fact, motor insurance provides protection against damage to a vehicle or any part of it due to human or natural reasons. In addition, it also provides compensation for damage to the person and the accompanying passengers in the event of an accident while driving the vehicle, as well as protection from damage to third parties.
Motor insurance can be the right answer to many problems. Motor insurance can be taken for cars, trucks, motorcycles and other road vehicles etc. Motor insurance protects the vehicle owner from:
Damage to his own vehicle
From a third party liability
Safety of the driver and passengers of the car when an accident occurs while walking in the car;
Third party liability is a statutory imperative in India. In this regard, if an accident occurs on the use of the vehicle in a public place, then it is the responsibility of the owner of the vehicle to compensate it in the event of damage to another vehicle or person. According to the Motor Vehicles Act 1988, it is absolutely necessary for every driver to have motor insurance before driving a vehicle in a public place or else there is a provision for penalty.
The protection provided by motor insurance in India can be divided into three main categories:
Private Car Insurance – The first thing to do when buying a car is to get a good car insurance. This provides financial protection from various types of accidents. Whether it is due to a natural accident such as an earthquake or a flood, or if someone damages or steals your car, car insurance is able to compensate for all these losses. Due to the imperative of third party liability, if a third person or property is harmed by your vehicle in an accident, then its claim can be protected. Owing to the imperative of third party liability, the owner of the vehicle is guaranteed financial security in the event of loss of life or property of another person due to the vehicle. In motor vehicle insurance, you can include add-ons such as zero depreciation, engine and gear box protection, emergency assistance, consumable expenses for some more protection along with your general insurance.
Commercial vehicle insurance – In order to maintain a steady pace of business, it is necessary for the businessman to get his vehicle insured. General insurance insurance companies provide package insurance for commercial vehicle insurance to protect against loss of business in the event of a vehicle accident and if the vehicle causes an accident if the person lives or if any of the property It provides protection to third parties when a statutory liability arises if a loss occurs. This insurance is available for all types of commercial insurance such as trucks, private and public carriers, trailers, taxis, three wheeler autos or all vehicles used in agricultural operations such as tractor, excavator or any form of vehicle. is.
Simple motor insurance cover includes:
Accident, fire, lightning, auto fire, external explosion, robbery, burglary in house or intentionally causing damage.
You can also get protection from damage caused by electrical equipment by paying additional premium.
Click here to know about the motor insurance scheme and its benefits.