Understanding your motor coverage: Your Guide to Comprehensive Motor Insurance in India
1 month, 1 week ago

Understanding your motor coverage: Your Guide to Comprehensive Motor Insurance in India

Live Mint  

India’s automobile sector is expanding at an unprecedented pace. For many vehicle owners in India, comprehensive motor insurance is seen as an avoidable expense. The Financial Implications of Under-Insurance Vehicle owners who avoid comprehensive insurance may believe they are saving money, but in reality, they are risking far greater financial loss. The Way Forward: Encouraging Comprehensive Coverage The under-penetration of motor insurance in India is not just an individual concern—it’s a societal issue that demands immediate attention. By doing so, we aim to drive widespread adoption of comprehensive motor insurance, protecting vehicle owners and society at large.

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History of this topic

India’s insurance reforms: A bold transformation, but not without challenges
4 weeks, 1 day ago

India’s insurance reforms: A bold transformation, but not without challenges

Live Mint  

India’s insurance industry, long seen as an underpenetrated yet promising market, is poised for a major transformation with the government’s proposal to permit 100% foreign direct investment in insurance companies and introduce composite licences. The proposed removal of the 74% cap will not only encourage global insurers to enter the market but also provide existing foreign investors the flexibility to …

What are the types of motor insurance claims and how to claim them?
1 year, 2 months ago

What are the types of motor insurance claims and how to claim them?

Live Mint  

Motor insurance policy is undeniably an indispensable requirement for all vehicle owners in India. While the benefits of having motor insurance are many, navigating coverage and claims is often tricky in this ever-changing insurance landscape, especially amid the regular introduction of new regulations and technological advancements. Let’s discuss the types of motor insurance claims common in India, the related claim …

What are the benefits of comprehensive insurance coverage?
1 year, 3 months ago

What are the benefits of comprehensive insurance coverage?

Live Mint  

Without sufficient insurance coverage, any individual's financial portfolio would be seriously inadequate. When this happens, having comprehensive coverage across many insurance kinds, such as life, auto, and health, is critical. Comprehensive coverage is usually a good idea because it entitles the policyholder to benefits such as the no-claim bonus and a variety of add-on covers such as zero depreciation and …

Demystifying Third-Party Car Insurance Everything You Need To Know For Budget Friendly Coverage
1 year, 3 months ago

Demystifying Third-Party Car Insurance Everything You Need To Know For Budget Friendly Coverage

ABP News  

New Delhi, August 31: Third-party car insurance is a type of auto insurance that provides coverage for the damages or injuries caused to a third party by your vehicle. Other Options While third-party car insurance is a legal requirement, there are alternative insurance options available that offer more extensive coverage for your own vehicle. These alternatives are: Comprehensive Car Insurance …

Flood strikes North India: Why is a comprehensive motor insurance crucial during such natural disasters?
1 year, 5 months ago

Flood strikes North India: Why is a comprehensive motor insurance crucial during such natural disasters?

Live Mint  

The recent heavy rainfall and subsequent flooding in parts of North India, including Delhi, Himachal Pradesh, and Uttarakhand, have created an unpredictable and unfortunate situation for the affected regions. Comprehensive motor insurance policies typically cover such damages, allowing vehicle owners to seek financial compensation for repairs or replacements. Motor insurance with third-party liability coverage ensures that vehicle owners are protected …

Why You Need a Third Party Insurance Policy: Key Advantages
1 year, 5 months ago

Why You Need a Third Party Insurance Policy: Key Advantages

India TV News  

In India, third party car insurance is a mandatory requirement for every vehicle owner as per the Motor Vehicles Act, 1988. It is a type of insurance policy that provides coverage against any legal liabilities arising from damages, injuries, or death caused to a third party involving the insured car. Financial Protection: Compensation Coverage: Third-party insurance covers the policyholder's legal …

Govt plans revamp of auto insurance policy
1 year, 9 months ago

Govt plans revamp of auto insurance policy

Live Mint  

Uninsured vehicles plying on highways are set to be offered on-the-spot insurance cover, with the government discussing a plan that includes deducting the premium from the owner’s Fastag account. According to two people aware of the development, the Centre is discussing a mechanism that will provide mandatory third-party insurance cover for motor vehicle owners at the first instance when their …

Electric vehicles vs fuel-based cars: How does it impact your motor insurance?
2 years, 2 months ago

Electric vehicles vs fuel-based cars: How does it impact your motor insurance?

Live Mint  

There is hardly any doubt that mobility in the new-age world would be driven by technological advancements. Motor insurance for electric vehicles For any vehicle owner, a motor insurance policy is one of the most important tools to protect their vehicles. When it comes to the law-mandated third-party electric car insurance, it actually costs less because Insurance Regulatory and Development …

Auto Insurance Rules to Change: Pay Premiums as 'You Drive, How you Drive'
2 years, 5 months ago

Auto Insurance Rules to Change: Pay Premiums as 'You Drive, How you Drive'

News 18  

Gone are those days when you have to pay a fixed premium every year for your own damage motor insurance policy. “… as a step towards facilitating technology enabled covers, IRDAI has permitted general insurance companies to introduce the following tech-enabled concepts for the motor own damage cover: a) ‘Pay as you drive’, b) ‘Pay how you drive’, c) ‘Floater …

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