In Mumbai alone the vehicular population has increased by
55% in the last seven years, now sporting 23.3 lakh registered vehicles. The consequential congestion on the road,
coupled with cows, stray dogs, disastrous rains, cyclists, pedestrians, absence
of traffic rules, is bound to turn a sane human being to an insane driver, like
The Impatient Speeder
Dont be uninsured
The Honking Abuser
honking abuser
The Overcautious Snail
overcautious snail
The I Hate Rules Jerk
i hate rules jerk
As a result, India at present has the highest number of road
accidents in the world. At such a rate, do you think you can get by with no or
low insurance covers? Yes, but heavy fines
or a stint in jail with the former and ridiculously low claims with the latter. So instead of trying to “save money” on your
insurance premiums, it is wise to go
with a plan which covers at the following.
What to look for while choosing a good motor Insurance Policy
It is Mandatory to get at least a third party cover for all
motor vehicle insurance in India. But that can protect you only to a
certain level- when a damage is caused to another person’s party because of
you. Then what about covering your own vehicle? Well, with a little more
thought and price, you can get a comprehensive cover which will include your
vehicle, a personal accident cover and a third party liability cover.
Understanding the terms
Comprehensive policy: It is a complete package policy wherein own
vehicle damages will be covered up to the Insured Declared value. And any third
party property damage or third party injury/death can be covered.
Third Party Liability- This cover protects you from any liability
arising of third party bodily injury or death and third party property damage
(TPPD). This is a mandatory requirement
under the motor vehicles act 1988. The limit for TPPD is 750k. Also the Third Party Liability cover is
unlimited and is determined by the court.
So it is a no brainer, that to get a sufficient and secure
claim, it is wiser to go with the Comprehensive policy covering both.
Learn how to determine the premium you should pay for your
vehicle.
Happy Driving :)
Source from: http://www.turtlemint.com/blog/why-lower-auto-insurance-premiums-may-not-be-good-for-you/
No comments:
Post a Comment