Auto Insurance in India deals with the insurance covers for the loss or damage caused to the automobile or its parts due to natural and man-made calamities. It provides accident cover for individual owners of the vehicle while driving and also for passengers and third party legal liability. There are certain general insurance companies who also offer online insurance service for the vehicle.
Auto Insurance in India is a compulsory requirement for all new vehicles used whether for commercial or personal use. The insurance companies have tie-ups with leading automobile manufacturers. They offer their customers instant auto quotes. Auto premium is determined by a number of factors and the amount of premium increases with the rise in the price of the vehicle. The claims of the Auto Insurance in India can be accidental, theft claims or third party claims. Certain documents are required for claiming Auto Insurance in India , like duly signed claim form, RC copy of the vehicle, Driving license copy, FIR copy, Original estimate and policy copy.
There are different types of Auto Insurance in India :
* Private Car Insurance – in the Auto Insurance in India, Private Car Insurance is the fastest growing sector as it is compulsory for all the new cars. The amount of premium depends on the make and value of the car, state where the car is registered and the year of manufacture.
* Two Wheeler Insurance – the Two Wheeler Insurance under the Auto Insurance in India covers accidental insurance for the drivers of the vehicle. The amount of premium depends on the current showroom price multiplied by the depreciation rate fixed by the Tariff Advisory Committee at the time of the beginning of policy period.
* Commercial Vehicle Insurance – Commercial Vehicle Insurance under the Auto Insurance in India provides cover for all the vehicles which are not used for personal purposes, like the Trucks and HMVs. The amount of premium depends on the showroom price of the vehicle at the commencement of the insurance period, make of the vehicle and the place of registration of the vehicle.
The auto insurance generally includes:
* Loss or damage by accident, fire, lightning, self ignition, external explosion, burglary, housebreaking or theft, malicious act.
* Liability for third party injury/death, third party property and liability to paid driver
* On payment of appropriate additional premium, loss/damage to electrical/electronic accessories
The auto insurance does not include:
* Consequential loss, depreciation, mechanical and electrical breakdown, failure or breakage
* When vehicle is used outside the geographical area
* War or nuclear perils and drunken driving
Some of the leading Insurance Companies offering Auto Insurance in India are:
HSBC India – Auto Secure
Bajaj Allianz - Bajaj Allianz's Motor Insurance
ICICI Lombard - Motor Plans, Two Wheeler Package Policy
United India Insurance Co. - Motor Package and Liability Only Policies
The New India Assurance Co. - Motor Policy
Monday, October 27, 2008
Subscribe to:
Post Comments (Atom)
Links
Popular Posts
-
There are a lot of important considerations when buying a car, and a lot of things you can do to make it easier for yourself. There are also...
-
Body kits are words that most car enthusiasts have heard of. For those of you who may be in the dark about what these words mean wait just ...
-
In musical parlance tuning refers to two types of tuning methods. One is the tuning practice, which is the applying procedures of tuning an ...
-
Typically, new auto insurance buyers tend to choose the lowest cost provider, assuming that most providers are essentially the same. As they...
-
To further complicate matters, even if a loss is covered, the policy most likely includes a deductible as well as coverage limits. Depending...
-
In their latest comparison test, which this time involved two hot hatches, the Brits from Autocar have pitted the Renault Clio Cup against t...
-
It is very important to research all of the many car insurance companies available to make sure that you get the best rates and best covera...
-
More and more people are turning to hybrid cars these days because of their promise of lesser fuel consumption and environmental friendlines...
-
When I first started racing Gas Powered RC cars , I used to struggle to get the engine into tune, while I was able to get the engine to st...
-
VERY USEFULL INFORMATIONS If you have never lived in a cold climate, you probably haven't had to deal with driving and handling a car ...
0 comments:
Post a Comment