What are the types of vehicle insurance?

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It is very important to get vehicle insurance, it is such an insurance that any vehicle (vehicles) compensates for accidental damage. car insurance It is very important in today’s time. The amount paid to the vehicle insurance holder depends on many factors such as the age of the vehicle, the type of fuel used in the vehicle, the condition of the vehicle and the age of the policy holder. Road accidents have become a common thing, in such a situation many times your vehicle must have been a victim of this accident at some time or the other. In such a situation, it becomes very important that your vehicle is insured. know more types of vehicle insurance,

How to download Vehicle Road Tax Receipt?

What are the types of vehicle insurance?  ,  types of vehicle insurance
types of vehicle insurance

Today, in this article, how many types of vehicle insurance are there? Going to give information related to this. types of vehicle insurance Stay tuned with the article for all kinds of information related to it.

types of vehicle insurance

Many times whenever you use your vehicle Insurance If you get it done, you get a lot of confusion about it. But in today’s article, we will give you information about the types of vehicle insurance, which will clear your confusion. According to the insurance protection you get, there are 2 types of vehicle insurance which are as follows –

1.Third Party Motor Insurance (Third Party Motor Insurance)

let’s know Third Party Motor Insurance What is? Whenever your vehicle causes any damage to another person’s vehicle or his body or any of his property, then that person is given compensation to compensate for this loss. Third party insurance is mandatory under the Motor Vehicles Act, 1988. Third Party Motor Insurance comes in handy so that you don’t have to empty your pocket to compensate for the damage caused by your vehicle to another person.

That is, you do not have to spend to compensate for the damage caused by your vehicle to another person, it is spent by the insurance policy company. Not only this Third Party Motor Insurance Under this, only the company with the insurance policy goes through the burden of any kind of court process in determining the compensation for the person who has been harmed by your vehicle. For this reason, this vehicle insurance is also known as Third Party Liability.

How to check car insurance online?

2. Comprehensive Motor Insurance,

Comprehensive motor vehicle insurance not only compensates the policyholder himself but also compensates for the loss caused to a third party. Comprehensive Motor Insurance No compensation is given in case of vehicle collision.

comprehensive motor insurance Types of –

Private car insurance policy: – For every vehicle owner by the Government of India private car insurance policy It has been made necessary to get it done. private car insurance policy by someone private cars is done for private car insurance policy Many types of financial losses like theft, natural calamities, accidents are covered by the insurance holder. Not only this, the damage caused to the third party is also covered by this policy.

two wheeler insurance policy , two wheeler insurance policy ) -Two wheeler policy has been made mandatory by the central government. two wheeler insurance policies It covers accidental damages caused to two-wheelers such as bikes or scooters. two wheeler insurance policy Under this, financial assistance is provided to the insurance holder to compensate for any loss due to disaster, fire or theft or any other accident. In the event of an accident to the person holding this policy, compensation is provided to both the owner and the passenger of the vehicle.

commercial vehicle insurance ,commercial vehicle insurance,commercial vehicle insurance Private vehicles are not covered under this. This insurance policy is availed for trucks, buses or vehicles used commercially. commercial vehicle insurance Through this, the damage caused to Multi Utility Vehicle, Agricultural Vehicle, Heavy Commercial Vehicle and Light Commercial Vehicle is covered.

Add on ( Comprehensive Motor Insurance)– add on Comprehensive Motor Insurance Some other features are added to it.

Engine Protection Cover Add On:- Engine Protection Cover Add On Under this, whenever water enters the engine of the vehicle or the lubricant oil of the vehicle leaks, then the compensation for the damage caused by similar problem Engine Protection Cover Add On is done under

Road Side Assistance Add On:- If by a policy holder Road Side Assistance Add On If the person’s vehicle has been purchased, assistance is given to that person’s vehicle even at midnight, in case the vehicle breaks down while going somewhere. Road Side Assistance Add On The benefit of this is more for those people who are traveling more at night.

Return to Invoice Cover Add On:- If an insured person has added the Return to Invoice cover, then in case of any accident with his vehicle, the insured person is compensated by the insurance company for the value of the insured person’s vehicle.

Vehicle insurance is done by these companies

car insurance There are many companies in India for this, the names of some important companies are given below-

  • The Oriental Insurance Company
  • HDFC ERGO General Insurance
  • TATA AIG General Insurance
  • SBI General Insurance
  • Bharti AXA General Insurance
  • Bajaj Allianz Insurance Company
  • Royal Sundaram General Insurance
  • The New India Assurance

benefits of auto insurance

  • If your vehicle is insured, then you are provided with many benefits under it.
  • vehicle insurance The holder is also protected from legal action in case of a vehicle accident by the insurance company.
  • The insurance company provides financial coverage against any type of damage to the insured vehicle.
  • If any other vehicle or any person gets into an accident with the insured person’s vehicle, then in such a situation, whatever insurance company you have insured your vehicle with, that insurance company compensates for the loss caused in this accident.
  • If the vehicle insured meets with an accident with the vehicle, then the entire hospital expenses of that person are borne by the insurance company itself.
  • If someone dies due to the accident of the insured vehicle, then in this situation compensation is given by the insurance company.

Get your third party insurance like this (How to do third party insurance)

You can get your third party insurance online from any insurance company, for this you have to follow the steps given below –

  • First of all visit the website of any insurance company.
  • As soon as you go to the website of any insurance company, you can select the policy for car insurance or two wheeler according to your vehicle from the links available on the homepage.
  • You policybazaar.com/motor-insurance/car-insurance You can also get your vehicle insured by clicking on the link.
  • You fill all the details of your vehicle like your vehicle registration number, your name, mobile number id etc.
  • Now after this, if you click on Get Quotes, then you will get to know about the premium rate (insurance installment) of the policy given by that company.
  • Select the insurance policy and fill the other requested information.
  • Now you can complete the process of buying the policy by paying the insurance premium.

types of vehicle insurance (FAQs)-

What are the types of vehicle insurance?

In terms of insurance coverage, there are 2 types of vehicle insurance.

What is third-party insurance policy?

Compensation when your vehicle / vehicle causes any damage to another vehicle or person or any property third party insurance policy takes place through

How many types of vehicle insurance are there according to the category of the vehicle?

According to the category of the vehicle, there are 3 types of vehicle insurance such as car insurance ,Commercial Vehicle Insurance ,Two Wheeler Insurance ,

Why is motor insurance required?

According to the Motor Vehicle Act in India, it is mandatory to have vehicle insurance. Third party insurance is mandatory for every vehicle. Motor insurance provides many benefits to the insurance holder. Insurance is necessary to compensate for the damage caused to another person or vehicle or property and to compensate for the damage caused to oneself, due to natural calamity or any other incident.

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