Understanding Motor Insurance
Motor insurance is a mandatory requirement for all vehicle owners in India that provides financial protection against damages, theft, and third-party liabilities. It is governed by the Motor Vehicles Act, 1988 and ensures compensation for losses arising from accidents.
Having valid motor insurance not only fulfills legal requirements but also provides peace of mind while driving on Indian roads.
Types of Motor Insurance Policies
Third-Party Liability Insurance
Mandatory coverage for damages caused to third parties including injury, death, or property damage.
Comprehensive Insurance
Complete coverage including own damage, theft, third-party liability, and personal accident cover.
Standalone Own Damage
Separate own damage cover that can be purchased with third-party insurance from different insurers.
Zero Depreciation Cover
Add-on that eliminates depreciation deduction during claim settlement for new vehicles.
Return to Invoice
Add-on that pays the original invoice value in case of total loss or theft of vehicle.
What Motor Insurance Covers
Popular Add-on Covers
Documents Required for Motor Insurance
Frequently Asked Questions
No Claim Bonus is a discount offered by insurance companies for every claim-free year. It starts at 20% for first claim-free year and can go up to 50% after 5 consecutive claim-free years. NCB is transferable when switching insurers.
Yes, motor insurance can be transferred to the new owner when selling the vehicle. You need to apply for policy transfer along with required documents including NOC, sale agreement, and new owner's details. The NCB also transfers to the new owner.
Cashless claim allows you to get your vehicle repaired at network garages without paying upfront. The insurance company settles the bill directly with the garage. You only need to pay the deductible amount if applicable.
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