Motor Insurance- keeps your motor vehicle safe


Motor Insurance is something that should be done to all the vehicles that we own. It helps us get the feeling of being safe whenever we are outside prone to accident areas. Be it a car or a two wheeler, the motor insurance policies are there to give complete protection for all.

Accidents are a part of our daily life just as any other thing. And Motor vehicles are also a part of lives. Be it going for work or for a drive out with the family, we always depend on our motor vehicles to take us to the perfect place. But whenever our motor vehicle suffers an accident, we are the most worried. It is because of the accident and the expenses to be incurred for it, we are scared of driving and most of us do not drive peacefully. Insurance companies from all over the world has brought into view the Motor Insurance policies.

These car policies includes the coverage of -

For the Car Insurance type of coverage, the motor insurance policy covers accidental loss or damages to the own car or to any kind of third party. The best policy can be chosen by comparing all the other policies provided by different companies with different levels of premium. For any kind of motor vehicle, the amount of premium or the Insured Declared Value (IDV) depends on the make and the value of the car at that specified period of time, the registration state of the car and the manufacturing year of the car.

The Two wheeler type of coverage covers all kinds of bikes, scooters and all two wheelers. The features used in this policy are similar to that of the car insurance policies. For the commercial vehicle insurance it is said that the companies provide any kind of reduction to the losses that are incurred due to damage in the vehicle. A commercial vehicle, at a large is meant for the vehicles that are not used for personal uses and are instead used for carrying goods etc.

Along with these coverage, it also provides the coverage of any kind of injury to a third party when you are the at fault driver. It is a given by the law that no insured person can cancel the third party liability at any time.
As an add on cover for the other covers given by the Motor Insurance policy, there is a comprehensive insurance cover given. This coverage protects the insured person from any kind of financial expenses that are caused by either theft or damage to the insured vehicle. Any kind of bodily injuries are also covered by the policy. The policy is inclusive of personal accident too.

The premium is decided on the basis of-

1. Age of the owner of the insured vehicle.
2. The driving history of the person.
3. The make and format of the vehicle.
4. The geographical location of the vehicle when the policy is made.
5. The profession of the person.

The exclusions to the Motor Insurance Policies include any kind of injury to the vehicle when the driver is under the influence of any kind of intoxicants. There is exclusion on the injuries caused to the vehicle if it is involved in any kind of illegal works. The driver, if he or she doesn’t have a driving license and it found driving, that too causing injuries, then the policy doesn’t cover it. Any kind of loss to the vehicle when the vehicle is out of the geographical territory market is not included.

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