When you decide to buy a vehicle, you have to consider many factors like design, mileage, price etc. However, there is so much more to buying a vehicle than just these things. In fact, auto purchases are not over after you walk out of the showroom with it. Just as it is important to choose the right vehicle for you, it is also important to make sure you are safe in the event of an accident. For this you need to buy the right vehicle insurance online.
Buying vehicle insurance in India
When a person buys a vehicle in India, they often get a third-party liability coverage policy with the vehicle. Even though it is the cheapest option, it also means that they do not pay much attention to the coverage of their vehicle. In addition, they do not improve their coverage by getting a better price and looking at other options. By doing so they miss out on the many benefits and savings that comprehensive insurance offers them.
Making the right decision can be difficult if there are too many options. With so many insurance providers offering countless coverage options, making the right choice is overwhelming. Therefore, you need to improve your search. Get an idea of the coverage you want and compare insurance plans. For example, if you want to cover vehicles used for business, you should compare commercial vehicle insurance policies. After a thorough comparison, you can look for ways to buy a policy at an affordable price.
Coverage of motor insurance
The heart of buying insurance is knowing what kind of coverage you need. Knowing what type of insurance you will buy is the right step in that direction. The types of bike insurance policies vary depending on what they cover and how they are covered. These are the types:
- Third party insurance
This is the minimum insurance coverage you need to have for your bike. Without it, you will not be allowed to ride your vehicle on the road. In addition, it is the most basic coverage available. It is called third-party insurance because it focuses more on the damage or loss caused to the third-party in an accident.
When an accident occurs, you not only damage your vehicle, but also the other person involved. This risk may be bodily injury or property damage. In this situation, you will have to pay compensation for their loss or damage. In addition, if a third party decides to file charges in court, you will also have to bear legal costs. Third-party insurance policies cover these costs and liabilities on your behalf. However, it does cover the cost of repairing damage to your own vehicle. * Standard T&C Apply
- Comprehensive insurance
The policy got its name from providing a comprehensive approach to motor insurance coverage. It really does provide comprehensive coverage for your vehicle. First, it covers all liabilities arising from the accident. It covers the coverage of a third-party policy and gives you peace of mind against any compensation or legal costs.
In addition to third-party coverage, a comprehensive policy also provides coverage for damage to your vehicle. That way, you do not have to worry about the financial cost of the accident. Once you are in an accident, all you have to do is contact the insurance provider and claim the money for your bike repair. * Standard T&C Apply
In addition to knowing the coverage, you should also know how much it costs. That is possible by using a vehicle insurance calculator before making your purchase. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.