Motor insurance claim comes into action when an accident involving the insured vehicle takes place. It has been designed to help you to combat the financial losses emerging out of an accident. Having been passed in 1939 and further amended in 1988, the Motor Vehicles Act requires you to have a policy which offers motor insurance claim at least to the third party. Motor insurance can be further categorised into two sections i.e. Insurance covering Act liability and Insurance covering act liability along with self damage.
Advantages of Motor Insurance:
Before deciding between opting for third party insurance or comprehensive insurance, please note that the third party insurance is mandatory by law and protects you from losses emerging from death to a third party or any damage to the vehicle itself. However, the comprehensive vehicle insurance claim policy provides cover to you, your car and the passengers.
There is a plethora of Insurance policies avaialble in the market. While most of the policies highlights the areas they cover in case of an accident, let us share with you the conditions to be noticed before buying the policy-