WHAT ARE THE DIFFERENCES BETWEEN 1ST PARTY INSURANCE AND 3RD PARTY INSURANCE: MOTOR INSURANCE BUYING TIPS
Before we look forward to the motor insurance buying tips , let us read how a motor insurance policy protects the owner of the insured vehicle from financial losses caused by an accident or other damages. Motor insurance covers the policyholder in the event that the insured vehicle suffers financial losses as a result of an accident or other damage. A comprehensive car insurance policy compensates for personal losses as well as damages to third parties and their property. Is Motor Insurance necessary? Yes, you’re right. According to Section 146 of the Motor Vehicles Act, 1988, you must have motor insurance before operating your car on the road. If you don’t want to buy a full insurance policy , third-party coverage is the bare least you’ll need to get your vehicle up and running. What does the policy cover? With motor insurance coverage, you’ll usually be insured for the following: Earthquakes, floods, fires, lightning, landslide...