Every owner of a motor vehicle must have a motor Insurance policy. There are mainly two types of motor insurance which are commonly known as Comprehensive Policy and Third Party Insurance. Every person who owns a motor vehicle should obtain a minimum Third party motor Insurance.
The comprehensive Motor Insurance covers loss or damage to the motor vehicle and third party liability whereas the Third Party Motor Insurance covers only the bodily injury or death to a third party and damages to a property of third party.
The basic covers of the comprehensive motor insurance policy include accidental damage to the vehicle, damages caused by fire, theft of the vehicle, thefts of parts of the private car, damages caused by malicious act and third party liabilities including third party fire and theft.
The customer has the choice of including additional covers such as personal accident benefits, special windscreen cover, flood and natural disaster cover, Rider cover, Terrorism cover and S.R.C.C. (Strike, Riot and Civil commotion cover) for an additional premium.
When obtaining a Motor Insurance policy, it is important to provide complete and accurate information, select the cover that suits your needs, ensure the premium payment is affordable, pay the premium regularly to keep the policy active and obtain the policy through an authorized agent or insurance broker.
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