What Is Motor Insurance?
Motor insurance is a legal and financial protection policy for vehicles such as cars, bikes, and commercial vehicles. It safeguards the vehicle owner from financial losses arising due to accidents, theft, fire, natural disasters, and third-party liabilities. In India, having at least third-party motor insurance is mandatory under the Motor Vehicles Act.Vehicle insurance or motor insurance is meant for cars, two wheelers and other road vehicles. A motor package policy protects the insured vehicle against the damages caused due to accidents and natural disasters.
Simply put, a comprehensive vehicle insurance allows for worry-free drives by curbing your vehicle repair expenses and helping you adhere to the law when on road.
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