Auto Insurance

Types of Auto Insurance:

Liability Insurance

This insurance gives the coverage against the damage occurred due to the covered accident resulted from the fault of insured person. Insured will be liable for the amount by which claims exceeds the coverage amount.

Features:

• It covers the repair cost of the damaged property and medical cost of the third party.
• It is legal obligation to have the third party insurance.
• It is much affordable.
• It is suitable for old vehicles.

Collision Coverage

In case of an accident for which the insured is found responsible, this insurance provides the coverage for the property damage to the vehicle of the insurance holder.

Features:

• Insurance holder’s vehicle is covered against damage due to accidents.
• Repair expenses are paid by insurance company after the accident.
• If cost of repair exceeds the market value of the vehicle, insurance company pay for the least of both.
• Policy is affordable and can be subscribed as per the age of the vehicle.

Comprehensive Insurance

As the name suggest itself, it is a comprehensive insurance plan covering not only the accidental cases but also the other probable aspects of the damage to the vehicle.

Features:

• It has a wide range of options.
• Includes damage to accident and manmade or natural disasters.
• Gives insurance coverage to insure property damage and physical damage to the vehicle of insurance holder, driver, passengers, third party vehicle, third party driver, passenger and third party property.
• Additional riders like roadside assistance, engine replacement and nil depreciation covers can also be subscribed.

General Exclusions:

• Tires and tubes of the vehicle in non-accidental cases.
• Damage to vehicle driven by a drunk driver.
• Normal wear and tear of the vehicle.
• Damage due to war and nuclear attack.