Vehicle InsuranceDifferent Types of Vehicle Insurance
There are different types of vehicle insurance offered for protection of your vehicles and owner. Some of the main plans and types of vehicle insurance include, but not limited to:
Car Insurance – It s one of the most vital type of vehicle insurance giving coverage against accidental loss or damages to own car or to third party. At the time of choosing one such policy, it is better to compare premium offered by various insurers to ensure you are going to get the best deal.
Two Wheeler Insurance or Bike Insurance – It is the protection to bikes, scooty and scooters or two wheelers against accidents and other issues.
Commercial Vehicle Insurance – It is offered for commercial vehicles – protection for vehicles and drivers to reduce losses that may occur due to damage.
Third Party Insurance Policy – It is offered for person – injured in an accident involving your car or you. It doesn’t provide any direct benefit to the insured. IRDA clears that no insurer can decline to underwrite third party insurance.
Liability Only Policy is also a type of vehicle insurance providing third party liability cover for bodily injuries and property damage. It includes personal accident cover for drivers too.
Riot & strike, fire & burglary, terrorism act , earthquake, land slide and flood, storm and cyclone damages are covered in vehicle insurance.
There are certain terms not covered in vehicle insurance. If vehicle is used for illegal activities or for purpose otherwise stated in the policy, it is not covered through vehicle insurance. Not having valid driving license and any loss or damage to the insured vehicle (outside India) are not covered in vehicle insurance. TFS Loans ZIlla helps you in choosing the right vehicle insurance according to your vehicle type. Give us a call or fill in online query form and you will get complete assistance in choosing the right vehicle insurance.