Instant Two-wheeler and Car Insurance

In India, motor insurance is mandatory for all vehicles under the Motor Vehicles Act of 1988. The law requires all vehicle owners to have at least third-party liability insurance to cover damages caused to third-party property or injury to third-party individuals in the event of an accident.

Motor insurance in India is offered by both public and private insurance companies. The most common types of motor insurance policies in India are:

1. 1. Third-Party Liability Insurance: This is the minimum level of coverage required by law in India. It covers damages or injuries caused to third-party property or individuals in the event of an accident. The policy does not cover any damages or injuries sustained by the insured or their vehicle.
2. 2. Comprehensive Insurance: This policy provides coverage for both third-party liability as well as damage to the insured vehicle. The policy covers damages or loss caused by accidents, theft, fire, natural disasters, and other events.

In addition to these two policies, there are also add-on covers that can be purchased to enhance the coverage of the motor insurance policy. Some common add-on covers available in India include:

1. 1. Personal Accident Cover: This provides coverage for the insured and their passengers in the event of an accident that results in injury or death.
2. 2. Zero Depreciation Cover: This cover provides full reimbursement for the cost of replacing parts of the vehicle that are damaged in an accident, without any deduction for depreciation.
3. 3. Engine Protection Cover: This covers damages to the engine of the insured vehicle caused by waterlogging or any other mechanical or electrical failure.

The premium for motor insurance in India is based on factors such as the make and model of the vehicle, age of the vehicle, and the location of the insured individual. It is important to compare the coverage and premiums of different motor insurance policies to select the policy that best meets your needs and budget.