Tag Archives: motor insurance

Tips for buying motor insurance

A motor insurance is absolutely important before you hit your car on the road. With appalling road conditions in India and the constant overruling of traffic norms driving is no less than a stunt that every vehicle owner performs each day. Your safety is of utmost importance which you manage with a life insurance or medical insurance policy. However, you would definitely like to have some cover for your car as well. Motor insurance India is the ultimate answer for a complete car security. As we all know car insurance is enforced by the government of India under which no car can be taken on the road. But there are plenty of reasons why a car insurance is the most important thing a car owner should look out for. The most important reason that a car insurance serves is that is covers the cost of your car repairs incase of accident, sudden break down etc. The cover for car repair is comprehensive. The insurance also covers the cost incurred in towing the car in case your car breaks down in the middle of the road. Many car insurance schemes provide cashless facility for car repairs in their network garages.

Another very important advantage of car insurance is that it also extends cover to the driver and the fellow passenger in case of an accident. In the event the insurance holder meets with an accident in which he is not at fault, then the insurance company will not only pay for the repair of your car but also for the treatment of the owner and the fellow passenger.

motor insurance

motor insurance

There are plenty of car motor insurance plans in the market. As the competition for the product is very fierce every provider has different benefits to offer. This makes it confusing for the consumers to choose. A smart and fast way of making your choice and purchasing the policy is by procuring the plan online. Online shopping for motor insurance India gives you the advantage of understanding each and every product in the market completely. There are many sites that help you to choose the perfect policy that suits your needs. These sites let you know the benefits, quotes and procedure of each and every product in the market. Also you can read the reviews of the product posted by consumers. This is first hand information that helps you make the right decision.

Also you can visit the different company websites that provide car motor insurance and read up the details of the product. Later you can shortlist a few and fill up the forms on the site to get a call back from the company representatives. Over the call discuss your doubts of the product and get a complete understanding of the benefits they have. Online purchase of motor insurance in India is absolutely convenient as you can do it from the comforts of your house or office and complete the process in simple steps. Companies now-a-days promote online purchase of car insurance policy as it involves minimum documentation process and quick approvals.

We need to buy the motor insurance for our cars

It is easy to own any vehicle but maintaining a vehicle in case of damage caused due to some unavoidable accidents can be expensive. Therefore, any vehicle used for commercial, domestic and pleasure purposes should be insured. You can find two types of motor insurance policies. Third party motor or van insurance policy covers the third party’s loss or damage to life or property. Comprehensive motor insurance policy covers the loss or damage to vehicle due to any accident or theft. Most motor insurance companies also offer additional features to maximize your cover.The insurance policy covers many aspects from the vehicle to the owner to any third party. The third party is involved in a liability related to vehicle that is insured. It is compulsory to have third party liability coverage as per the motor vehicle act motor insurance.

whole business of motor insurance, for that matter any form of cheap insurance, is all about earning big bucks. But the catch is that it’s for the insurers only! But yesterday I came across this rather interesting bit of data which I’d like to share with all the readers. For the financial year 2005-06 the UKmotor insurance sector lost £0.1 billion! Now that was shocking as our last ashes victory, which if I remember correctly was somewhere around that time only! Maybe something was in the air!

This report I’m referring to is the annual report of Association of British Insurers (ABI) that states that total premium paid by people like you and me was £10.2 billion. According to them the amount they paid us for bumping each other off was £10.3 billion! Now I really want to meet those lucky people! The fact is that when you go out to shop for motor insurance for your car or bike you make an investment that needs to be done in a proper and sensible manner.Most of the renowned insurance companies will offer you quote online to help you grab a comprehensive package and enable you to save a lot on your auto insurance. Thus, you need to be alert while making a final choice.