Tag: Motor Vehicle Insurance

Will Car Modification Impact Vehicle Insurance Claim Settlement?

Car modifications are gaining traction in India and can be seen mainly in youngsters who want to alter their cars per their requirements. Car modifications are quite common in Western countries, but when it comes to India, these are pretty new. As per the Motor Vehicles Act, every Original Equipment Manufacturer (OEM) vehicle should be […]

How to Lower Your Vehicle Insurance Premium Without Sacrificing Coverage?

Vehicle insurance is mandatory in India without which you might have to pay a fine or face imprisonment or both. Vehicle insurance has two sections: Own damage and Third party. Third party premium is decided by the Insurance Regulatory and Development Authority of India and is the same across all insurance companies. On the other […]

Don’t Get Flooded Out: Why Trying to Start a Waterlogged Car Can Sink Your Insurance Claim

Finally, you think to yourself. God seems to have answered your prayers. Rains are here. It has rained through the night. The next day, you get into your waterlogged car and try to start it. Keech!!! The engine makes a screeching noise, but your car won’t start. You try a second time and your engine […]

The Revolutionary Impact of Artificial Intelligence on Motor Insurance

Artificial intelligence (AI) has emerged as a pervasive force, reshaping industries across the globe. In the realm of insurance industry, particularly motor insurance, AI is catalyzing transformative changes. Let’s delve into the multifaceted role of AI in motor insurance, scrutinizing its influence on underwriting processes and claim settlements. Understanding Artificial Intelligence: At its core, artificial […]

Navigating the Salvage Deduction Conundrum in Motor Insurance: A Customer’s Guide

In the world of motor insurance, where promises of comprehensive coverage and peace of mind often collide with the unexpected, the curious case of salvage deduction leaves many policyholders scratching their heads. For the uninitiated, salvage is the value of damaged or destroyed property that can be recovered and sold after an insurance claim has […]

The Importance of Comprehensive Motor Vehicle Insurance Coverage

Motor Insurance: Motor insurance is an agreement between an insurance provider and the insured policyholder, in which the insurer agrees to compensate the insured for any loss caused by the insured in the event of an unforeseeable incident in exchange for a small sum known as the premium. The insurance of motors has been made […]