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 […]

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 […]

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 […]

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 […]

We all buy motor insurance to have financial protection in case our vehicle is damaged in an accident. However, making a claim can often lead to higher renewal premiums with our insurer. This is why some people are tempted to hide past claims from their insurance company when renewing their policy. But as we’ll explore […]

Many of us are wondering whether it is relevant and important to take zero depreciation cover in the first year for the vehicle. Depreciation refers to the reduction in the value of the asset over a period of time due to the general wear and tear of the asset. Depreciation could happen both due to […]

Accidents in India: As per the Ministry of Road Transport and Highways, every year, approximately 1.5 lakh people die on Indian roads, with an average of 47 accidents and 18 deaths every hour. There could be many reasons for road accidents, such as high speed, improper roads, drunk driving, etc. In all these cases, there […]

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 […]

Vehicle insurance compensates the financial loss incurred by the insured due to an unforeseen incident causing damage to the vehicle and third-party liability, which includes bodily injury and property damage to third parties due to the insured vehicle. Motor insurance comes in two parts. The first part covers the insured’s liability towards bodily injury and […]

The Indian Insurance Regulatory and Development Authority (IRDA) has asked for the withdrawal of long term comprehensive package cover for two wheelers and private cars. This was based out of concerns arising out of policyholder sentiment of being stuck with Insurers, despite deficient service.

A mechanically self-propelled vehicle; supposed to be ply on the public roads should have at least ‘ THIRD-PARTY ‘ Insurance as per the Motor Vehicles Act Coverage under motor insurance: OWN DAMAGE: (Comprehensive) The company will indemnify the insured against loss or damage to the insured vehicle. i. by Fire ii. by Explosion iii. by […]