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What is Car Insurance and What are the Best Features?

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Nalini Sharma
What is Car Insurance and What are the Best Features?

A car insurance policy covers the financial liability that arises if the insured vehicle injures or damages the property of a third party. Furthermore, if the policy's coverage is comprehensive, the loss experienced by the automobile as a result of accidents or other disasters is also covered. The Motor Vehicles Act of 1988 requires all vehicles to be insured before they may be driven on Indian highways. As a result, car owners must invest in additional motor insurance plans for their vehicles by default. The policyholder is the car owner, who must pay the premium on a yearly basis.


Here are some important factors in car insurance policies:


  • All other policies are yearly, save for the long-term insurance cover for new autos.
  • If you pick comprehensive car insurance online, you may personalize and increase your coverage with extra add-ons.
  • Comprehensive plans also permit several forms of premium reduction, the most well known of which is the no claim discount, which you get for failing to file a claim under the policy.
  • The IRDA sets the premium for third-party plans based on engine capacity. However, the rate for comprehensive policies is established by the various insurance providers. This is why prices differ between insurers, and you should shop around for auto insurance before buying comprehensive coverage.
  • Personal accident coverage is required under car insurance policies. If you already have personal accident insurance in your name, you may skip this step.
  • Different insurers sell standalone third-party insurance, standalone property damage insurance, and standalone personal accident insurance.
  • You may easily switch insurance carriers whenever your policy is renewed.
  • You may purchase vehicle insurance coverage either online or offline.


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Nalini Sharma
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