Under Car Insurance, also known as auto insurance or motor insurance, all light motor vehicle used for social, domestic, pleasure or insurer's business purposes are insured to provide protection against damages or loss caused due to any mishappening.
Talking about cars? Insurance is reciprocated. Car insurance is the fastest growing segment in the auto insurance sector. Insuring your car is mandatory. There are uncountable number of car insurance schemes floating in the market by different companies, both domestic and MNCs. Many insurance companies are tying up with car manufacturers to make the insurance procedure easy, simple and hassle free.
You can opt for a personal accident cover for other unnamed passengers in your car e.g. your family, relatives, friends etc. Also cover yourself against any legal liability to your paid driver. Electrical and non-electrical items fitted to the vehicle can be insured separately. A discount is allowed in the premium if the insured is a member of a recognised Automobile Association.
The car insurance policy covers against any loss or damage caused to the vehicle or it's accessories due to the following reasons:
Natural Calamities - Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.
Man made Calamities - Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air.
Personal accident cover - The motor insurance provides compulsory personal accident cover for individual owners of the vehicle while driving. You can also opt for a personal accident cover for passengers.
Third party legal liability - This protects you against legal liability arising due to accidental damages.
Any permanent injury/ death of a person.
Any damage caused to the property.
Note: The rates of the vehicle and its parts are subject to depreciation as per the schedule provided by the Indian Motor Tariff.