Different Kinds of Motor Insurance

There are different kinds of motor insurance. They are Car Insurance, Commercial Vehicle Insurance and Two Wheeler Insurance.

Car insurance

Car insurance is compulsory when buying a car. The most car manufacturers have tie ups with the insurance companies for the easy access of insurance.  Car insurance covers the damage and loss by accident, fire, earthquake, theft, third party claims etc. There is additional premium payment option for the coverage of the electronic parts of the vehicle.

Commercial Vehicle Insurance

Commercial vehicle insurance is for the vehicles they are not used for personal uses. Trucks, heavy commercial vehicles, buses, light commercial vehicles, multi utility vehicles, ambulances etc are covered by this insurance. The insurance premium is calculated on the year model, year of manufacture, and current show room price. Insurance companies have collaboration with the big vehicle manufacturing companies. United India Insurance, New India Insurance, ICICI Lombard are the important companies working in the sector.

Two wheeler Insurance

It is a popular one and administrated by Indian Motor Tariff. This insurance gives coverage against natural and manmade accidents like (more…)