Vehicle Insurance cover – Choose the Right One
Any person who possesses a vehicle whether it is a bike or a four-wheeler must be very much aware of the law that he should purchase protection of the vehicle for utilizing an engine vehicle in the general population. According to the motor vehicle act, it is mandatory for the owner of the vehicle to buy insurance for the motor vehicle.
The motor vehicle act has made vehicle insurance cover mandatory. This liability will be covered towards all those parties whose property have got damaged or have got injured by the use of a motor vehicle. This act prescribes penalties/fines/punishment for not holding valid insurance for the motor automobile.
Reasons to choose Motor insurance cover:
- Since a vehicle is a valuable asset for an individual, people generally opt for an Insurance Cover to cover their automobile against accidental loss and damage.
Points to remember while availing Vehicle Insurance:
1) Check for the Comprehensive Policy: If an individual has borrowed a new vehicle, he must ensure that the delivery is taken only after a Comprehensive policy has been availed. Some of the manufacturers offer free insurance for new vehicles. Even dealers also help an individual in getting his motor vehicle insured.
2) Check Credentials of the Insurer: While availing any insurance policy it is important to check the credentials of the insurer, the premium to be charged by the insurer, and the coverage offered under the policy.
3) Track the record of the Insurer: Parameters of the Insurer also relates to the consumer service track record of the insurer. It must also relate to the policy promptness and servicing in the claim settlement.
4) Check with your friends or with online portals: All of the credentials can be checked by consulting your friends or colleagues. You can use various Online Platforms to choose the appropriate insurer for your motor vehicle.
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