Motor Insurance comes for all types of vehicles. This is generally classified in 2 types say Two Wheeler Insurance & Four Wheeler Insurance policies. However, motor insurance policy is not restricted only for these two types. It also has plans for 2 wheelers like autorickshaw or 6 to 8 wheeler container trucks. Motor Insurance is also referred as Auto Insurance as it covers wide range of automobiles.
Car Insurance / Four Wheeler Insurance Policies
Car insurance is a contract between a car owner and a car insurer wherein the insurance company promises to protect the car owner from financial losses relating to his/her car arising due to a misfortunate event like a road accident, theft, fire, natural calamities, man-made calamities, vandalism, etc. In return for this promise, the owner of the car/ the four wheeler pays a insurance premium to the insurance company. There are three types of four wheeler insurance in India namely Third Party Car Insurance Policy, Comprehensive Car Insurance Policy, and Standalone Own-Damage Car Insurance Policy. As per the Indian Motor Tariff, it is mandatory for every car owner in India to own at least a third party car insurance policy. Driving a car/a four wheeler without a valid third party car insurance policy is a legal offense in India which attracts a fine of Rs. 2,000 and/or imprisonment of up to 3 months.
Why is car insurance important?
Your car insurance would cover most of the claims that could happen while you are driving your car. Because it protects the insured from financial losses in case of damage(s) caused to his/her car due to an accident. A comprehensive car insurance policy will cover everything including yours car as well as third party vehicles.
Car Insurance companies in India offer a plethora of car insurance plans that cater to the specific needs of the buyers, but choosing the right policy can help you at times of risk. For any kind of support regarding car insurance in coimbatore, you can reach Insurance Factory team – The Best Car Insurance Agents in Coimbatore.
Bike Insurance / Two Wheeler Insurance Policies
Two Wheeler Insurance or Bike Insurance is an insurance policy which provides financial protection to your two wheeler / bike against any damages that may be caused by accidents, natural disasters, theft or any serious incidents. A Two Wheeler Insurance also covers financial losses against any third party liabilities. By law, you atleast need to have a third-party two wheeler insurance in order to ride a bike. As the name states, it covers, third-party vehicles which gets damaged when hit against your vehicle i.e., your bike. Third party bike insurances will not give coverage to your bike/two-wheeler.
To get the best quote, reach – Insurance Factory – Top Bike Insurance agents in Coimbatore
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