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Motor Insurance

The world is moving so fast where all the people are using a vehicle and at the same time the rate of accidents and stolen that lead to a loss in both finance and lives. Mortar insurance is something that makes you feel financially safe and covers financial help for the owner and the vehicle, sometimes to the third parties as well (it depends on the type of Motor Insurance you choose).

You can have a look at quickbima.com, an online website that gives you different options for insurance. You may easily compare them and know the pros and cons of each of them. It also helps you to have certain discounts when you have on the website.

Type of Motor Insurance

There are three types of motor insurance and they vary based on the type and nature of the vehicle:

Car Insurance

It is necessary to have insurance before you buy a car, most of the insurance companies have tied with certain car companies and they provide car insurance. This will be highly useful during any circumstances like accidents, stolen or during any natural or man-made calamities. This will financially help both the vehicle and the owner of the vehicle.

Two Wheeler Insurance

When a person needs to use their two-wheeler in the Indian public roads, it is necessary to have two wheeler insurance. This will help the owner during any accidents, calamities and during a robbery. When the insurance is active the person can have covered even up to one based on the type of two-wheeler policy chosen.

Commercial Vehicle Insurance

This type of insurance coverage is for vehicles that are not used for personal purposes. It covers insurance for vehicles like trucks, buses, heavy commercial heavy and light vehicles, agricultural vehicles, multi-utility vehicles, ambulance, etc.

Based on the type of insurance the motor insurance premium and other premium differ. There are insurances available for all the vehicles.

Features of Motor Insurance

  • The premium charges can be calculated based on the IDV of the vehicle, it is calculated during all the renewal based on the depreciation.
  • The vehicle's owners may enjoy certain premium discounts based on the higher deductible. These refer to the amount of money that you may pay from your pocket during any accidents.
  • You may have no claim bonus as the result of having good driving records and low number no history accidents.
  • It helps highly helps you have peace of mind and travel peacefully.
Features of Motor Insurance

Benefits of Motor Insurance

  • It Covers Your Medical Bills: During any accidents, one of the most critical things to worry about is the financial needs. They occur suddenly and you may not how much you need to get cured, so having the right insurance policy will help you highly in paying medical bills.
  • Law Requirements: when you are the reason for the accidents important documents that will be seen first is the license and insurance. Only when those are active you may face them without higher issues.
  • Add-ons: based on the type of insurance you choose, you may enjoy certain ads on like no depreciation cover, no claim bonus and certain assistance if your vehicle is stuck during any failure.
  • Portability: your motor insurance is portable; you may easily change insurer and make benefit without any higher changes. This will highly help you during the time of calculating no claim bonus.
  • Protects Vehicle from Damage: It is common for any vehicle to get damaged; it may be due to any accidents, floods, fire, bad weather, earthquakes, etc. In these cases it is necessary to have security like insurance.

Why Should Buy Motor Insurance?

There are a number of reasons to buy motor insurance, most important once are:

  • It is legal to drive the vehicle only if you have insurance for it.
  • It pays when your vehicles have any damages.
  • It helps in reducing your liability.
  • It pays for your hospitalization.
  • It helps highly to your family as the financial compensation during your demise.
Why Should Buy Motor Insurance

Tips to Lower Motor Insurance Premium Rates

Higher Your Deductible: when you agree that you will pay more amount during any accidents, you may have lower premium rates.

Do not Claim for any Small Amounts: when you claim for small accidents it means that you are at the risk of accidents and you may need to have claims often. This factor encourages the insurance company to have a high premium on your insurance.

Transfer Your Bonus: the two-wheeler insurance and other motor insurances are portable and also you may transfer the bonus of not claiming from your insurer. This will help to have a high bonus by the end and also the premium rates can be decreased.

Have a good analysis before you choose your insurance: when you know completely about your motor insurance it may help you to choose the best one, this can also the factor to reduce your premium amount.

Stay safe when you drive: having good driving is the key factor to reduce the motor insurance premium.

You may compare them through quickbima.com and choose the best online motor Insurance without any high risks.

How to File a Motor Insurance Premium Rates

The motor insurance premium rate is the maximum amount that you may have out of your claim. It directly depends on your premium amount. You may file them from your company website or seek help from one of the representatives of the vehicle insurance company.

How to File a Motor Insurance Claim

  • When you need to file any claim for your motor insurance, contact your motor insurance representative; get help from him to find the required documents and forms to have a claim.
  • Your company will generally ask for proof for the loss and documents relating that. Make sure you submit all the relevant documents for the claim.
  • Generally, you will need to submit documents like policy number, contact address, the name of the insured person, date and time of the accident, location of the loss, and extent of the loss. This differs from the type of damage like in accidents, theft or stolen.

When you are buying any vehicle insurance it is very much necessary to have looked at all the aspects of the insurance. It is the expense that you spend every now and then, it is actually the savings that you may for your future during any critical times. So make sure you know completely about insurance and choose the best one. You can use quickbima.com, an online insurance platform to compare all the motor insurances and choose the best online motor Insurance.

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