What are the main risks covered in Motor Insurance?

What is covered under motor insurance?

It provides protection against legal claims filed by a third party that has suffered bodily injury or/and damage to their car owing to an accident you may have caused. This coverage pays the damages to the third party and also the legal expenses required to defend yourself against the claim.

What types of events are covered under the vehicle insurance?

Basic Motor Insurance coverage include:

  • Loss or damage by accident, fire, lightning, self-ignition, external explosion, burglary, housebreaking or theft, malicious act.
  • Liability for third party injury/death, third party property and liability to paid driver.

What is not covered under motor insurance policy?

Any damage to the car due to war, terror attacks, invasion, foreign enemy action, civil war, mutiny, rebellion, hostilities, radiation or nuclear material/weapons are not covered under a standard motor policy. … For instance, engine damage due to hydrostatic loss during monsoons is a common consequential loss.

Can I claim insurance if I damage my own car?

So even if there is damage caused by natural calamities like floods etc. or even accidents to your own vehicle, you cannot claim compensation under your liability insurance. This is where the importance of own damage car insurance is realised.

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Is engine damage covered by insurance?

Car insurance policies generally include liability for bodily injury and property damage due to an accident or comprehensive loss due to fire, theft, explosion, etc. … However, any engine damage caused by wear and tear or mechanical failure will not be covered as part of an insurance claim.

What are the 4 types of insurance?

Different types of general insurance include motor insurance, health insurance, travel insurance, and home insurance.

What are the 3 main types of insurance?

Insurance in India can be broadly divided into three categories:

  • Life insurance. As the name suggests, life insurance is insurance on your life. …
  • Health insurance. Health insurance is bought to cover medical costs for expensive treatments. …
  • Car insurance. …
  • Education Insurance. …
  • Home insurance.

What are the 3 types of motor insurance?

There are three main types of car insurance:

  • Third-party.
  • Third-party, fire and theft.
  • Comprehensive.

What is the contractor all risk policy?

Contractor’s All Risk Insurance offers comprehensive and adequate protection against loss or damage in respect of contract works, construction plant and equipment and/ or construction machinery, as well as third party claims in respect of property damage or bodily injury arising in connection with the execution of a …

Does insurance cover brake pads?

If your brakes are damaged due to getting into a collision or from one of the covered causes on your comprehensive policy, then yes, your auto insurance will cover the cost of repairing/replacing your brakes.

What is covered under own damage insurance?

The own damage car insurance covers the total loss of your car and you will be compensated for this type of damage. Fire, Explosions, Implosions, Lightning, and self-ignition: Fires resulting from an accident or an explosion that leads to damaging your car are covered under an own damage insurance policy.

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How do I claim insurance on my own damage?

What you need to do to file a car insurance claim

  1. Step 1: Read your Insurance Policy. …
  2. Step 2: Secure the accident scene. …
  3. Step 3: Document the accident scene. …
  4. Step 4: Notify your insurance company. …
  5. Step 5: Submit required documents. …
  6. Step 6: Letter of Authorization and Repair.