Car Insurance
If you are planning to buy a new car and excited about taking it on the roads for a ride can remain a dream if you don’t have car insurance as it is mandatory as per the law. Car insurance is a contract between insured (customer) and insurer (insurance company) wherein the insurer will cover financial losses of customer occurred either due to an accident, Theft or a natural calamity.
Car insurance policies can be of two types
Third Party/ Liability Only Car Insurance Policy
Liability or third party car insurance policy is mandatory in India. This policy covers financially in case of accidental injuries occurring to third party or damages happened to third party property.
Comprehensive car Insurance Policy
A comprehensive insurance policy covers policy holder as well as his vehicle, along with the third party. It is advisable to go for a comprehensive motor insurance cover and save yourself from a financial dent.