Terms You Should Know Before Claiming Motor Insurance Online Plans
Just bought a two wheeler motor vehicle? Thinking to get insurance claimed? Then you should be aware of certain terms which have its own significance in this market. These terms will make your life with signing in to buy motor insurance online plans handling, easy. 1. Own Damage Premium This kind of premium is the one which forms the major share of your existing motor insurance. Vehicles damages because of the losses caused by incidents that occur from natural disasters or fire and explosions, the out of your control kinds. These losses can also be claimed if you ask for this specific kind of feature in insurance. 2. IDV (Insured Declared Value) The maximum amount that can be claimed for your vehicle is IDV. The maximum amount will be nothing but the actual on road price of the motor vehicle? Right? So without forgetting to mention about IDV, the claimer should consider it as this can cover the total damage of your vehicle, due to lose or theft. The compensations are always high here. 3. Deductible This term is really useful and has all the essence of insurance. Why? Because this is the amount of money that you pay part from the money you just claimed in your policy. This is included in every motor insurance online plan to avoid any kind of confusions related to