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A claim under a motor insurance policy can be classified as: Own damage claim: If there is damage to your car, the claim is called as an own damage claim. Third party claim: If there is an injury or worse to someone else or damage to someone else’s car, it is called as a third party claim. Theft claim: If… Continue Reading »
Why Do You Need Motor Insurance? Motor insurance, as the name suggests is an insurance cover for the motor vehicle owned by a person. Owning a four-wheeler is an important landmark in one’s life. A personal car gives a sense of pride and a sense of achievement. On the other hand, owning a commercial vehicle enables revenue generation. We come… Continue Reading »
We all love our cars and give due care to their safety & maintenance. We all consider buying motor insurance as part of our car care plan. In India, buying a third party motor insurance is compulsory, without which driving on the roads will be considered as illegal. Motor insurance in India has two broad sections – Third party liability… Continue Reading »
The reasons for buying a two wheeler are many for Indians. They range from necessity to passion to a style statement, and most importantly, affordability. However having a two-wheeler without an Insurance cover is not only illegal but it may also land you in financial difficulties. The Importance of Two-Wheeler Insurance Insurance cover for motorcycles and other two-wheelers gives protection… Continue Reading »
Insured Declared Value or IDV is an important consideration when renewing car insurance. That’s because the premium is based completely on that. How should you evaluate IDV to get the maximum value for your car insurance policy? And what is the impact of increasing or reducing the IDV beyond fair market value? Find the answers here.
No Claim Bonus (NCB) for Car/Bike/Two-wheeler insurance is a great feature when buying motor insurance. When accumulated, it offers discounts as high as 50% on OD (Own Damage) premium, and this can be significant for high value vehicles. Not just that this is even transferable when you sell of your old car and buy a new one. Here’s everything you will need to know about NCB when buying Car Insurance in India.