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The Motor Vehicles Act (1988), requires all vehicles being used on-road to be covered by valid insurance. Which means, driving motor vehicles in public places without third party insurance is a punishable offense. Hence, Third Party Motor Insurance for vehicles is mandatory. The former type of insurance protects you against financial and legal liabilities towards a third party. On the other hand, A comprehensive insurance policy provides cover to your vehicle against damage due to accident, fire, theft, cyclone, flood etc. Along with this cover, it covers any third party liability
According to a General Insurance Council of India (GIC) report, nearly 60 per cent of vehicles in India are not insured and most of these are motorcycles and scooters.
This sheds light on the importance of having our vehicles insured. While premium rates are not very high, many people simply do not bother to buy a policy because they are certain that the likelihood of them being asked to show these papers is quite low and that is something worth thinking about.
Getting an insurance policy for your car is protects your life, money, and any third party. It goes without saying that thorough research is needed to buy the right policy for your car. However, it doesn’t stop there. There’s also the question of claiming for insurance. Though it’s usually fairly easy, there have been certain instances when insureds have faced problems with their insurers. To ensure you don’t face similar problems, Auto Caretakers provides the right consultancy so that customers could benefit the most.
The chart shows the claims ratio in motor own damage insurance across India by the leading Insurers.
Auto Caretakers is partnered with HDFC ERGO, which stands to be the second best Insurer in terms of Claim Settlement Ratio.
HDFC ERGO MOTOR INSURANCE provides coverage upto INR 7.5 lakhs for third party damage and has total protection add-ons for your most loved vehicle. It stands to be one of the best insurer in the market which provides hassle-free cashless claim settlements at it's approved workshops and garages. HDFC ERGO also offers Unlimited claims for Zero Depreciation plan in a year, which is not very commonly offered by other insurers.
You can ensure the protection against any liability arising out of a road accident involving your vehicle with a comprehensive Motor Insurance plan with HDFC ERGO. A comprehensive Motor Insurance is designed to provide optimum coverage at reasonable cost.