Motor insurance policy (1)

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Motor Insurance Policy
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When you go to buy a vehicle, the price which
they tell you does not include certain elements.
But when you ask for the on-road price, they tell
you cost of insurance and road tax. In other
words, you cannot buy a vehicle without
insurance. It is a mandatory requirement under
the Motor Vehicles Act in India.
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The motor insurance policy in India is applicable
for a year. After this period, one has to renew
the policy every year. It is certainly an expense
for you but you should treat it as an investment.
You don't have to worry about the inadvertent
damages caused to your vehicle if you have proper
motor insurance policy in place. You just need to
take care of some critical elements to get that
peace of mind. Buying insurance plan is one of
the most profitable and reliable investment.
Buying insurance policy can be easy and can prove
to be futuristic-ally based investment.
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Here is a quick snapshot of the types of vehicle
insurance so that you are aware of the basics and
able to make a well-informed decision. This type
of insurance provides you a comprehensive
coverage of various risks. It includes damages to
the vehicle and third party as well. There are
riders under which you may get accidental
insurance also. Additionally, you can cover other
passengers in the vehicle apart from the one who
drives the vehicle.
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Third party insurance policy Third party
insurance, at the other end, covers you against
the damage caused to the third party. This type
of insurance does not cover any damage caused to
your vehicle in a mishap.
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What is the difference? The amount of premium
differs in both the cases. Apparently, the amount
of premium for comprehensive insurance policy
will be greater than third party. Reason being
that the extent of coverage is much
larger. However, if you feel that you do not
require comprehensive insurance, you may still go
for third party motor insurance policy with a
lower premium.
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In order to compare various motor insurance
policy, you can visit various insurance websites.
The quotes are generally provided instantly or at
the most, you will be required to enter your
contact details so as to receive a call back from
the concerned company. Source http//car-insuranc
e-online-in-india.blogspot.in/2016/08/motor-insura
nce-policy_20.html
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