Motor Insurance
Motor insurance is a mandatory vehicle insurance policy for vehicles like trucks, cars, jeeps, bikes, scooters, etc. With Motor Insurance, get comprehensive coverage against accidental damages and Third-party liabilities. Apart from that, it is also helpful at the time of natural calamity, theft, fire damage, vandalism, man-made disasters, etc. There are mainly three types of Motor Insurance covers available in India: third-party insurance cover, standalone damage cover, and comprehensive insurance cover. Here is a comprehensive guide explaining motor insurance, its meaning, types, and benefits.
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Buying a car is a big-time dream for a lot of people. A car is an essential asset to have in present times. It simply makes life easier and more convenient for us. Hence, it is essential to ensure its safety. This is where car insurance comes into play and safeguards our vehicles.
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The roads are always an unpredictable place for your dear car. Your car runs the risk of sustaining bumps, dents, scratches or any other damages. Some of these damages could end up becoming costly affairs for you and cause many inconveniences.
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Buying a car in India is a big step for people as it solves several problems and makes life more convenient. However, for driving on Indian roads, you need to have at least valid third-party insurance. A third-party insurance policy helps the policyholder in paying for any damages towards a third party.
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Carrying valid motor insurance while driving a car on Indian roads is compulsory. The Motor Vehicle Act of 1988 has made it mandatory to have at least third-party car insurance. It compensates for any injury, property damage, or even death of a third party, in an accident caused by collision with the insured car.
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Four-wheeler vehicles have become an essential asset for the masses over the years. Nevertheless, it is important to be mindful of the amount of risk involved in owning a car due to the wear and tear of its parts with use and the chances of accidental damage. Hence, getting car insurance
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Buying a car is everyone’s dream but owning a four-wheeler has its challenges. There are many other ways in which owning a car could become a big responsibility. If you think we’re hinting at the maintenance cost of four-wheelers, you’re mistaken. Besides maintenance, you will also have to shell out money over car insurance.
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