In today’s article, I am going to tell you all that how to choose the best motor insurance policy for car and bike?
In today’s life, a vehicle is needed to go from one place to another. So that whenever we need it, we can go wherever we want with the help of our personal vehicle.
Whenever we buy a vehicle according to our requirement, while buying a vehicle, we do a lot of research about that vehicle. After that we buy a car or a bike for ourselves. Now after buying a car or bike, it becomes necessary to get it insured as well, which has been made mandatory under the Motor Vehicles Act.
Under which it is mandatory for every vehicle plying in a public place to be insured. If any person is caught driving an uninsured vehicle, then strict legal action will be taken against that person. The main objective of this legal action is not to make such mistake in future.
How to choose the best motor insurance policy for car and bike.
All of you buy your car or bike after doing a lot of research, but when it comes to insurance / insurance, do not do research before buying insurance. When the vehicle or you are a victim of an accident, then claim in the insurance company for the compensation of the damage in that accident.
So later it is known that the insurance policy which you had taken for your car or bike, in the event of such accidents, the company is neither responsible nor will any compensation of any kind.
Now it comes to what things should be kept in mind before taking a policy for car and bike.
1.Choose a reliable insurance company.
Whenever you get insurance for a bike or car, the thing to note is whether the insurance company from which you are taking an insurance policy for your car or bike is trustworthy or not. Whenever a trustworthy insurance company is chosen, that company will work only in the interest of its customers and will inform you about every smallest of the terms and conditions related to the insurance policy, so that you do not face any problem while making an insurance claim.
2.Premium of the insurance policy.
Whenever the insurance company is chosen, there are many types of policies for the bike or car in that insurance company, the premium is determined on the basis of the policy.
3.Which policy would be beneficial to take.
After taking a bike or car, the first thing to do is to insure the bike or car, so that in future any accident or damage due to accident can get financial assistance from the insurance company. Now the question arises which policy to take for bike or car. Two types of policies have been mentioned by the insurance company.
Comprehensive insurance policy. ( comprehensive insurance policy )
Third party liability insurance policy. (third liability insurance policy)
4.What is a comprehensive insurance policy?
`Comprehensive insurance policy As the name suggests, an insurance policy policy that extends. This insurance policy covers many types of accidents.
Will cover third party liability:- Third party liability means death or bodily damage to a person due to motor vehicle accident, then the insurance company will compensate for that damage.
Own Damage:– If the vehicle is damaged due to any of your actions, then the insurance company will give compensation on the basis of that damage.
Natural calamities such as:- Damage due to lightning, earthquake, flood, storm, cyclone, hailstorm, cold, landslide.
Damage caused by fire, damage caused by self-burning, accidental damage by external sources.
Damage caused in transit by road, rail, inland waterway, lift or air.
Compensation in case of theft of vehicle.
Compensation for the damage caused by the riots.
Compensation for damage caused to the vehicle during the strike.
Compensation against damage caused to the vehicle by malicious act.
Compensation for damage caused to the vehicle due to terrorist activities.
5.What is a Third Party Liability Insurance Policy?
Third Party Insurance Policy As the name suggests, third party insurance. Now who is this third party for which every car biker takes insurance. So let’s also know who is the third party. In a vehicle insurance policy, the insurance company is the first party, the second party is the person who takes insurance for his car bike and the third party is the person who is injured or who dies due to a vehicle accident. Third party liability insurance policy only covers damages caused to third persons.
This insurance policy only covers damage caused by your vehicle to another person or his property.
If you or your vehicle is damaged due to a vehicle accident, no compensation will be given.The insurance company is not responsible for own damage i.e. damage caused to the vehicle itself.