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| What is motor insurance? |
| Motor insurance protects you and your vehicle against every comprehensible risk related to your vehicle – theft or damage to it, death of the driver and passengers in an accident, and damage caused by your vehicle to another person or property (Third Party Liability). |
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| How is motor insurance different from other forms of general insurance? |
| A motor insurance policy (Third Party Liability) is mandatory under the Motor Vehicle Act, while other forms of general insurance are optional. The law mandates that every owner of a motor vehicle must have a motor insurance policy. |
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| Why do I need motor insurance? |
You need motor insurance :
 | Third Party Liability (injury, death or property damage) is mandatory as per the Motor Vehicle Act |
| Your car is one of your most coveted possessions |
| Passengers in your car are mostly your near and dear ones |
| Accident, theft, damage and third party liability can arise unexpectedly |
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| What is the kind of emergency that can strike? |
| Loss or damage to the vehicle insured |
| Own damage |
| Partial theft |
| Total theft |
| Third party injury |
| Third party death |
| Third party property damage |
| Personal accident of owner-driver and other passengers |
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| What are the exclusions under the policy? |
The following are the specific exclusions under the policy:-
| Mechanical breakdown |
| Wear & tear |
| Consequential loss |
| Depreciation |
| Deliberate accidental loss |
| Intoxicated driving |
| Any contractual liability |
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| What is the maximum cover that can be availed for occupants of vehicle? |
Under a package policy, the maximum cover that can be availed for the driver and each passenger is Rs 1 lakh and Rs 2 lakh respectively.
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| What is compulsory deductible under Motor insurance? |
Motor insurance policies have a compulsory deductible, wherein the claim amount has to be borne by the insured.
| For private cars up to 1,500 cc – Rs 500 |
| For private cars above 1,500 cc- Rs 1,000 |
| For two wheelers – Rs 50 |
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| What is the difference between private motor insurance and commercial motor insurance? |
Vehicles owned by individuals and used for their personal purpose fall under the category of private vehicles However, vehicles owned by companies or individuals used for public utilities fall under the category of commercial vehicle. The insurer’s liability is lower in private vehicles than in commercial vehicles, where the third party liability is huge.
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