Motor Insurance

A motor insurance policy offers coverage to the insured vehicle against financial losses due to an accident or one resulting from other damages.

Motor insurance is an insurance policy that covers the policyholder in case of financial losses – resulting from an accident or other damages – sustained by the insured vehicle. A comprehensive motor insurance policy covers damages to third-party and third-party property along with compensating for own losses as well.

Usually, vehicles are insured at a fixed Insured Declared Value (IDV). In other terms, IDV is the current value of your vehicle in the market. IDV is higher for a new vehicle and with time it depreciates

With a motor insurance policy, you will be usually covered against the following:

• Damages and losses, resulting from natural calamities such as earthquake, floods, fire, lightning, landslide, hurricane, etc.
• Damages that result from human intervention, including burglary, theft, riots, strike or any other activity born of malicious intent.
• Third-party legal liabilities owing to damages (both bodily injuries and death) caused to third-party as well as financial losses to a third-party property.