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Car Insurance in India

Car Insurance

Car Insurance is also termed as a vehicle insurance which refers to the insurance that is bought for the cars purchased. The basic purpose of this type of car insurance is to provide safety against the losses or damages that are caused due to the accidents and the liability that are incurred under the accident.

The following are the items that are covered under this car insurance.

  • The party who has insured,
  • The vehicle that is insured,
  • Third parties which involve both the car and people,
  • Third party, occurrence of fire and theft of car
  • Sometimes, in certain jurisdictions, the cover is provided also for those who rides the car insured and for the injuries involved. This is provided regardless of any faults in the accident.

There are varieties of policies available for different circumstances in which each item can be involved. For instance, Car Insurance can be provided for the insured car under different losses like theft of a car, damage due to fire accidents, and independent damages due to accidents in traffic. A Deductible is a term also called as an Excess payment. 

This refers to the fixed contribution that is made via the policy under this Car Insurance each time when his/her car is in repairable condition. Usually, this excess payment is paid to the garage directly where the damaged cars are actually repaired and services were given and are made at the time when you take back the car in return.

When your damaged car is referred to as either "Write off" or "Total loss", which means the worth of vehicle or car, is less than the cost that is spent on repairing it. At this time, the excess amount is deducted from the settlement payment by the company that provides insurance as it is mentioned in the policy covered.

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