Four-wheeler Insurance : A Quick Guide

Post By - Manav Saini
Review By : Rohan Sharma
Updated on : October 29, 2021

Introduction to Four-wheeler Insurance : A Quick Guide

Car insurance protects you from financial loss if your vehicle is destroyed or stolen. Car insurance (often referred to as auto or motor insurance) is purchased to safeguard your car against unexpected dangers. It essentially protects you against damages incurred as a result of unforeseen events.

According to the Best Car Accident Attorney in town, it helps protect against theft, financial loss caused by accidents, and any subsequent liabilities.
Before renewing or purchasing a new policy, it is critical for a policyholder to examine several vehicle insurance options.

Key benefits of Car Insurance :

Coverage for the insured vehicle’s loss or damage.
It mostly covers losses resulting from accidents, theft, fire, explosion, natural disasters, terror attacks, and so on.
Financial liability coverage in the event of a third-party injury or death, or property damage.
Coverage for personal injuries

Car Insurance Coverage :

Car insurance, often known as motor insurance, is required by law. In India, having a minimum amount of insurance is a legal necessity before driving a car.
The following two types of car insurance coverage are widely divided:

Comprehensive car insurance policy :

This policy covers any loss or damage to the vehicle and its insured accessories that occurs as a result of natural or man-made disasters. These disasters can be divided into two categories: natural disasters & man-made disasters.
Fire, explosion, lightning, flood, typhoon, hurricane, storm, cyclone, hailstorm, frost, landslide, rockslide, fire, and shock damage from an earthquake are examples of natural calamities. You may be entitled for insurance benefits if you have been harmed by a fire.

Burglary, housebreaking, theft, riot or strike, externally caused accident, malicious act, terrorist action, and damage while travelling by road, rail, inland waterway, or air are examples of man-made disasters. This policy also offers personal accident coverage, which covers the vehicle’s driver in the event of an accident while driving.

Personal accident insurance for passengers in the car can be purchased by the owner. A third-party legal liability insurance policy is also required. It shields the owner from moral liability in the event of an accident that results in permanent disability or death, as well as property damage.

The Comprehensive Insurance policy does not cover loss or damage caused by:

At the time of impact, a driver who was under the influence of alcohol.
A car operated by someone who does not have a valid driver’s license.
Unless the car is also destroyed, harm to the tires.
Wear and tear or mechanical failure are two examples of wear and tear.

Third party car insurance policy :

The insured and the insurer sign a contract called insurance. As a result, a third party is anyone who isn’t the insurer or the insured. Pedestrians and persons in other vehicles, such as drivers, owners, and passengers, are examples of third parties.

Your legal duty for any compensation due to you as a result of an accident caused by your vehicle is covered by your Third Party car insurance policy. It involves third-party liability for death or harm.

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Four-wheeler Insurance : A Quick Guide