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Insight About Motor Insurance
Under the Motor Vehicles Act of 1988, it is mandatory for every vehicle owner in India to have a motor insurance policy. This law applies to all types of vehicles, whether it's a truck, bus, used commercial vehicle, auto-rickshaw, taxi/cab, two-wheeler, or passenger car. Motor insurance offers vital protection for vehicle owners, covering them against potential damages, losses, and liability claims. With this insurance, you're safeguarded against unforeseen events like accidents, theft, and damage from natural calamities. Additionally, it ensures that you're legally covered for any injury or damage to third-party life or property resulting from the use of your vehicle in public. Remember, driving without third party motor insurance is not only risky but also a punishable offense under the Motor Vehicles Act, 1988.
We facilitate the Insurance Solutions from Empaneled Insurance Partners
Motor Insurance
Features & Benefits
Third-Party Liability Coverage: Mandatory by law, it protects you against legal liabilities arising from injuries or damages to third parties.
Own Damage Cover: Covers damages to your vehicle due to accidents, theft, fire, or natural disasters.
Comprehensive Cover: Includes both third-party liability and own damage, providing broader protection.
Add-Ons: Options like zero depreciation cover, roadside assistance, and engine protection enhance coverage etc.
Peace of Mind: Ensures financial protection against unforeseen events.
Terms & Conditions Apply*
Eligibility Criteria
Vehicle Ownership: You must be the registered owner of the vehicle to purchase motor insurance.
Vehicle Registration: The vehicle must be registered with the Regional Transport Office (RTO) in India.
Driving License: The owner or the driver must have a valid driving license.
Age of Vehicle: Some insurers may have restrictions on insuring older vehicles.
Purpose of Use: The insurance policy must align with the vehicle's intended use (personal or commercial).
Residency: The policyholder must generally be a resident of India.
Frequently Asked Questions
If your claim gets rejected, first review the reason provided by the insurance company. You can appeal the decision by providing additional documents or evidence that supports your case. If needed, you can escalate the matter to the insurance ombudsman or seek legal advice to ensure your claim is fairly assessed.
Yes, if your driver is at fault in an accident, the insurance will cover the damages up to the limits of your policy. This includes both damage to other vehicles and any injuries caused. It’s essential to ensure your drivers have valid licenses and follow safe driving practices, as this impacts your claims process.
Commercial vehicle insurance usually covers damage from accidents, theft, natural disasters like floods or earthquakes, and even fire. Comprehensive policies offer the widest protection, ensuring that whether your vehicle is hit by another car, stolen, or damaged by a storm, you’re financially protected.
Yes, you can insure a second-hand commercial vehicle. The process is similar to insuring a new one. The insurance premium might vary based on the vehicle’s age, condition, and previous claims history, but you can still get comprehensive coverage for it.
Insurance for your commercial vehicle protects your business from financial losses if your vehicle gets damaged, is involved in an accident, or causes injury to others. It’s not just about following the law; it's about safeguarding your investment and ensuring that your business can keep running even after unexpected events.
