Vehicle Insurance - Parivar Insurance Consultancy
Motor insurance (also known as auto insurance) is a type of general insurance that provides financial protection for vehicles, including cars, motorcycles, trucks, and other motorized vehicles. It covers a variety of risks, such as damage to the vehicle, theft, accidents, and injury to the driver, passengers, or others involved in an accident.
Key Features of Motor Insurance
Premium: The amount you pay periodically (annually or semi-annually) for the policy. The premium amount is based on factors like the type of coverage, the model of the vehicle, age of the driver, driving history, and location.
Deductible: The amount you must pay out-of-pocket before the insurance company pays for a claim. Higher deductibles typically result in lower premiums, but it means you’ll pay more if you file a claim.
Claims Process: If an accident or damage occurs, you can file a claim with the insurer, who will evaluate the situation and cover the repair costs or compensation as per the policy terms.
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Why is Health Insurance Important?
Legal Requirement: In many countries, having at least third-party liability insurance is mandatory for drivers. Financial Protection: It helps protect you from the high costs of repairs, legal fees, or medical expenses resulting from an accident. Peace of Mind: Motor insurance provides reassurance that you're covered in case of unforeseen events, from fender benders to major accidents. Protection Against Theft and Vandalism: Comprehensive policies also protect against vehicle theft or vandalism, which can be costly to deal with out-of-pocket.
Types of Life Insurance
- Third-Party Liability Insurance
- Comprehensive Insurance
- Third-Party, Fire, and Theft Insurance
- Personal Accident Insurance
- Own Damage (OD) Cover