Essential facts about motor insurance drivers should know

The term motor insurance is applicable for any kind of vehicle that plies on the Indian roads. It could be a four-wheeler, bike, or commercial vehicle. Every year, thousands of new motorists get their driving license and become motor owners. Of these, the number of young motorists is maximum. Newbies need to have all the information to be able to invest in a decent insurance policy.

If you are a new driver, you should be aware of the following facts before taking that vehicle on the highway –

Types:

You get a driving license for a motorcycle without gear when you turn 16 years old. But need to wait until 18 years for getting driving license for other automobiles, which includes four-wheelers, jeeps, buses, etc. No matter the kind of vehicle you own, you must buy an insurance plan for the same. Typically, there are three motor insurance types –

  • Two-wheeler insurance
  • Car insurance
  • Commercial insurance such as cabs, rickshaws, buses, trucks, etc.

Plans:

New drivers need to be aware that these types have their motor insurance plans as well. Generally, the two common plans in India are –

  • Third-party liability

Also called limited liability insurance, is a mandatory policy that all owners must invest according to the Motor Vehicle Act, 1988. Such insurance covers third-party individuals and properties in case of accidents, resulting in injury, death, or damage to the vehicle. The policyholder is not the beneficiary of such policies. The sum assured under third-party is lower, and so is the premium amount.

  • Comprehensive plan

One of the best motor insurance plans to consider is a comprehensive policy. They are regarded as an all-round insurance policy that covers both the third-party as well as the holder. Under such insurance, you get coverage against a wide range of roadside scenarios and natural as well as humanmade calamities, or damage to specific parts of the automobile. You can also customise the plan by adding some riders for additional protection. Comprehensive policies hold higher premiums, but there are some personal as well as external factors that could reduce them.

Kind of add-on covers:

While new drivers buy motor insurance, they need to be aware of different riders which gives them added protection. These include –

  • Zero depreciation cover
  • Roadside assistance
  • No claim bonus cover
  • Accidental cover
  • Personal accident cover

If you have got your driving license, you should be aware that driving without both a license and insurance is a punishable offence. If you are a young driver, research as much information on motor insurance types before hitting the roads.

60 thoughts on “Essential facts about motor insurance drivers should know”

  1. Avatar

    Hi, I think your site might be having browser compatibility issues. When I look at your website in Safari, it looks fine but when opening in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that, fantastic blog!

  2. Avatar

    Hey, you used to write excellent, but the last several posts have been kinda boring?K I miss your tremendous writings. Past few posts are just a little bit out of track! come on!

  3. Avatar

    obviously like your website but you need to check the spelling on quite a few of your posts. A number of them are rife with spelling issues and I find it very bothersome to tell the truth nevertheless I will surely come back again.

  4. Avatar

    Nice post. I learn something more challenging on different blogs everyday. It will always be stimulating to read content from other writers and practice a little something from their store. I’d prefer to use some with the content on my blog whether you don’t mind. Natually I’ll give you a link on your web blog. Thanks for sharing.

  5. Avatar

    It is actually a great and helpful piece of info. I’m glad that you just shared this useful information with us. Please keep us informed like this. Thanks for sharing.

  6. Avatar

    I in addition to my buddies came looking at the excellent guidelines located on your site then the sudden came up with an awful suspicion I never thanked the blog owner for them. Most of the boys were so passionate to learn all of them and already have honestly been tapping into those things. Thanks for simply being well helpful and then for using some very good useful guides millions of individuals are really eager to learn about. My sincere apologies for not saying thanks to you earlier.

  7. Avatar

    Attractive part of content. I simply stumbled upon your weblog and in accession capital to assert that I acquire actually loved account your blog posts. Anyway I will be subscribing for your augment or even I success you get right of entry to consistently rapidly.

  8. Avatar

    Whats up very cool website!! Guy .. Beautiful .. Wonderful .. I’ll bookmark your site and take the feeds also…I’m happy to seek out so many helpful information here in the post, we need develop more strategies on this regard, thanks for sharing.

Leave a Reply