Motor Insurance
Who Should Take Such Policy?
Any individual, firm, corporate, or business having a motor vehicle can take this policy.
Indicative Coverage:
Motor Vehicle Insurance provides two types of coverage:
- Comprehensive Insurance Policy: Covers physical damage to your vehicle caused by accidents and compensates for third-party death, bodily injury, or property loss.
- Third Party Liability Insurance Policy: Provides compensation to third parties for loss of life or property damage caused by the insured vehicle.
Common Exclusions:
- Consequential loss
- Depreciation
- Wear and tear
- Mechanical or electrical breakdown
- Damages from races or speed tests
- Radiation
- War
- Accidents outside covered regions
- Unlicensed or intoxicated drivers
- Government possession