Detect my Current LocationSponsored feature: PolicyX offers affordable motor insurance plans to customers
PolicyX provides you with free insurance quotes and helps you make the right choice.
Published On Oct 10, 2018 03:49:00 PM
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In today's world where the construction and telecommunication industries are growing rapidly, automotive technology is not left behind. From a steady beginning in the late 19th century to spreading benefits globally, the automotive industry has been growing rapidly and has witnessed several transformations as well. Nowadays, there are several automobiles such as two-wheelers, three-wheelers, personal cars, commercial vehicles, and it is almost impossible to imagine a life without them.
Using vehicles for your commute is now a necessity and a part of daily routine. However, while it provides the ease of commuting to the owner, it also carries several risks, both bodily as well as financial. Hence, security is very important if you own or drive any vehicle.
It is important for you to have a motor insurance policy that will be liable to offer needful coverage in the case of unwanted incidents. Apart from this, in India, it is compulsory to have motor insurance plans, otherwise, you can't drive on the roads of India legally. Signing up for a policy keeps your vehicle safe from damages, loss of vehicle, theft, third-party liability, etc.
Basically, a motor insurance plan offers the needful coverage to safeguard your finances, in case a need arises. An effective motor insurance policy helps you secure your vehicle from a number of financial liabilities or losses.
We are aware of the growing number of roads accidents that at times lead to huge losses. In such cases, an effective motor insurance plan is all you need. With an effective insurance policy, it is easier for the insured to drive legally on the roads of India and stay protected against huge losses.
You can buy insurance for cars, trucks, bikes, and other vehicles as well. The motor insurance plan will offer a cover against (i) damages to owner's own vehicle and (ii) any Third Party Liability (iii) Personal accident cover, etc. Third Party Insurance is compulsory in India. It makes the owner liable for any injuries caused to or death of third-party life, or damage to third-party property if it is caused by their vehicle. Driving a motor vehicle without a valid insurance is a punishable offense as per the Motor Vehicles Act, 1988.
PolicyX.com has come out with several affordable yet effective insurance plans for your car and bike.
What comes under motor insurance?
There are two products that come under the motor insurance – Car insurance and two- wheeler insurance.
Car insurance
After buying a car, the first thing that you should do before taking it out on roads is insuring it under an effective insurance plan. You can do the same with the help of PolicyX.com as it offers free quotes that you can use to compare car insurance online and make a decision on the best one according to your needs. Car insurance plans are designed in a way that offers complete coverage against losses that occurs because of damage, theft or natural calamities. It is true that only third-party liability car insurance is mandatory in India but a package policy offers wider coverage as it covers you and your vehicle, in addition to third-party liability.
Two-wheeler insurance
Two-wheeler insurance follows the same concept. Under this, you get two forms of motor insurance – package policy and third-party liability.
While a two-wheeler package policy offers complete coverage to the insured, the vehicle and third- party liability coverage, the latter is limited to cover damages to the third-party person and their property. It does not provide cover to the insured or their vehicle.
To get the best two-wheeler insurance plan, visit PolicyX.com as it offers free insurance quotes and allows you to pick the best plan from the comfort of your home.
PolicyX.com also assists its consumers during the claim settlement process. It offers end-to-end service for the ease of its customers.
Basic motor insurance plan includes:
1. Loss or damage that takes place because of an accident, fire, lightning, self-ignition, burglary, housebreaking or theft, and malicious acts.
2. Liability for third-party injury/death, third-party property, etc.
3. An extra premium will get you a cover against loss/damages to electrical/electronic accessories.
Conclusion
According to the Motor Vehicles Act, 1988, it is compulsory to carry a valid motor insurance plan while you are driving on the roads of India. Apart from this, it is also a great way of securing yourself and your vehicle from unexpected road emergencies or accidents. Just think about all the mishaps that you witness daily; doesn't that make it necessary to own an effective insurance plan for your complete safety? Take the help of PolicyX to get the best plan based on your needs.
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