Vehicle Insurance
Vehicle Insurance in India
General information on taking out an insurance policy in India, with details on insuring a vehicle and making a claim… The central government’s Motor Vehicles Act (1988) states that automobile insurance is compulsory for all vehicle owners. A valid copy of an owner’s insurance policy must be kept in the car at all times. As a result, car manufacturers have formed partnerships with leading insurance providers. Vehicle owners can get instant quotes for car insurance premiums by filling out a simple questionnaire at a car dealership or at an insurance provider’s website.
Generally, automobile insurance is comprehensive in India and policies are comparable with those in other countries. They cover damages to a car due to man-made or natural causes. Vehicle Insurance policies will also have accident coverage to protect the driver and passengers. Car insurance usually provides: Coverage for loss or damage as a result of accidents, fire, lightning, selfignition, external explosion, burglary/theft or other malicious acts Liability for third-party injury/death, third-party property damage and liability to a hired driver
Additional premiums can be purchased to cover loss and damage to electrical/electronic accessories in the car. However, automobile insurance does not include: Consequential loss, depreciation, mechanical and electrical breakdown, failure or breakage Coverage for when a vehicle is used outside of India (claims from other countries cannot be transferred or filed) Damage or loss caused by war, nuclear weapons or drunk driving [Source: http://india.angloinfo.com/money/insurance-india/insuring-avehicle/]
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