Motor insurance
A person buys insurance to overcome financial losses relating to auto accidents, damages, thefts, etc. arising for self or to the third-party. Instead of paying from one’s pocket for such auto eventualities, one prefers paying annual premiums to the auto insurance company, which in turn takes liability for all or most of the costs vis-a-vis an auto accident or any other damage, theft or loss, etc., including third-party liability.
Third party liability
Whenever you think of buying any motor vehicle, the first thought to come to your mind should be to go in for comprehensive motor cover with third-party cover. Third-party insurance is mandatory. Whereas cover towards damage, theft, loss, etc. to the vehicle is limited and restricted by the agreement between the insurer and the insured, the liability towards third-party insurance is unlimited.
In the event of an accident resulting in physical injury or death, the insurance company is to bear the whole compensation due to the third-party. Taking into account the third-party’s earnings, age, liabilities, etc., the court decides the quantum of compensation towards the injuries or death caused to the respective third party.
Noteworthy points for auto insurance
Most of the state governments have mandated to purchase a minimum amount of commercial auto insurance. However, the insurance premiums vary taking into account various factors like the individual’s age, gender, driving experience and record, particularly accidents and traffic violation history, etc. Many persons buy extra policy cover for more protection.
The amount of premium may thus be higher for extra policy cover. Likewise, a premium can also be reduced by opting to go in for more risks, i.e. enhancement of your deductibles.
Most of the auto insurance companies give the cashless facility at innumerable empanelled hospitals. The facilities offered are hospitalization, broken limbs, burns, heart-care, brain-care, psychiatry, surgery, room service, services of surgeons, anesthetist, etc., etc. In case one is treated at the non-empanelled hospital, a reimbursement bill is accepted and settled for respective disease within the limits of the agreed insured amount. 24X7 personal assistance and services to settle the bill are offered.
Online motor insurance
It is always useful to opt for online motor insurance plans. The online motor policy offers a lot of options, is easy, simple and cost-effective. So when you decide to shop motor vehicle insurance, explore advantages of online shopping.
You will find multiple benefits. Just call for multiple online quotes from various insurance companies. The quotes can be offered free of cost. After calling for some quotes just spend a bit of time and go through them carefully. You will find very many fascinating options. Shortlist some of them and then choose the best one for you.