Types of Motor Insurance
Motor vehicle insurance can be broadly classified under below heads:
Car Insurance :
Car insurance gives coverage against accidental loss or damages to own car or a third party caused due to the insured car. When choosing a car insurance policy, a person should always compare the premium offered by various insurers to get best deal. The premium amount would majorly depend on the make & value of the car, the state from which it is registered and the manufacturing year.
Bike Insurance :
Two wheeler insurance or bike insurance provides financial and legal protection to bikes and scooters. It covers two-wheeler vehicles against any own damages as well as any accidental loss caused to third-party property or person. Similar to car insurance, a two-wheeler policy’s premium depends on the bike’s age, its make & model, registration year, etc.
Commercial Vehicle Insurance :
Commercial vehicle insurance helps all commercial vehicle drivers to reduce losses they might incur due to damage to their vehicle. It covers a commercial vehicle from unforeseen damages like theft, fire, collisions and third-party damages as well. Here commercial vehicles include vehicles that are not used for personal purposes, like goods-carrying vehicle