Auto insurance is a contract between you and the insurance company that protects you against financial loss in the event of an accident or theft.
In exchange for your paying a premium, the insurance company agrees to pay your losses as outlined in your policy such as damage to or theft of your car.
There are three primary types of coverage offered by the majority of car insurance providers. They include liability, collision, and comprehensive.
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Not only are cars expensive, paying for their repairs is costly, too. Sometimes, your car may be damaged due to someone else’s negligence. A car colliding with yours, or you swerving to avoid a jaywalker and crashing into a wall, or even a stray cricket ball cracking your windshield can set you back by a considerable amount of money. However, if you have car insurance, you need not pay for these repairs by yourself.
Taking Third Party Liability (TPL) car insurance coverage is mandatory in India. The TPL policy covers you against the legal ramifications of an accident caused by you. For example, if you happen to cause an accident that results in damages to another person’s property or injuries to another driver/pedestrian, the insurance will pay for their treatment and save you from the legal repercussions of the case.
Not every car owner who suffers an accident is fortunate to get away with a few cuts and bruises. Some accidents result in fractures and other serious injuries that require hospitalisation. Instead of shelling out the high hospital and treatment costs from your own pocket, you can get your motor insurance to pay these expenses.
The most unfortunate outcome of a road accident is the car owner’s demise. Once the bread-earning policy holder has passed away, it might become difficult for his or her family to sustain its daily life. However, a motor insurance policy can help pay the family’s expenses after the unfortunate event.
Vehicle insurance is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle.
Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a car insurance.
Maximum age of applicant at loan maturity: 60 years
Minimum Net Monthly Income: Rs 15,000
Applicant should have the bank specified credit score.
Now apply for a Car Insurance online, All you need to do is provide your details below application form.
