Types Of Motor Insurance Available In The Market

No matter what kind of vehicle you have, motor insurance is available for all kinds. Most people think they can only insure their cars or SUVS, without realizing that there’s motor insurance available for all kinds of vehicles. From 2-wheelers to commercial vehicles, you can now buy insurance for any and every automobile you own.

Motor insurance policies for cars, commercial vehicles, and 2-wheelers differ in terms of coverage and premium. As the dangers involved in each are very different, insurance companies outline the inclusions and exclusions very carefully, so customers don’t get confused. When choosing the policy for whatever you own, keep in mind that you carefully read the motor insurance policy – several insurance companies have higher premium costs but very little coverage. What your motor insurance must include depends largely on the kind of vehicle you own, but there are some common inclusions too.

The loss or damage of any of your vehicles due to theft should be taken care of with your motor insurance. Any repairs required for your car, 2-wheeler or commercial vehicle due to fire, explosions or acts of terrorism, riots, etc., should also be covered under your motor insurance policy. No matter what automobile you have, these basic things should definitely be covered.

Keep in mind that most companies will not pay your motor insurance claim if you were driving without your license or under the influence of alcohol. Motor insurance also does not, usually, cover the damages done to the vehicle outside of the country of residence. So, for example, if you’ve bought your motor insurance in India, you might not get the money damages made in any other country. Another thing excluded in all policies is General Wear and Tear. This refers to all the damages your car goes through because of age or usage; since these factors are inevitable, motor insurance companies keep this as a part of their exclusions.

Make sure any and all your vehicles are insured. If you own a business and have commercial vehicles as a part of, motor insurance makes sure that any damages are not suffered by your company. Owning a car or 2-wheeler means you need motor insurance to not only to protect your vehicle, but also to take care of your family and loved ones. Choose motor insurance for the safety of your automobiles, you loved ones and your employees. It’s the smart and the safe choice.