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Why Auto Insurance is More Important Now Than Ever Before

Auto/ Car Insurance:

Legally, no motor vehicle is allowed to be driven on the road without valid insurance. Hence, it is obligatory to get the vehicle insured. Motor insurance policies cover against any loss or damage caused to the vehicle or its accessories due to the following natural and man-made calamities. Natural calamities include Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide and rockslide. While, manmade disasters consist of theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air.

Cheap Auto Insurance and cheap car insurance:

In India, auto and car insurance is a wise investment. Auto insurance is mandatory for all new vehicles be it for commercial or personal use. Car insurance companies are coming out with comprehensive policies for its customers. They are also tying up with leading automobile manufacturers for a swift insurance process. An automobile may be insured against loss or damage by accident, fire, burglary, and while in transit including third party accident. Auto insurance companies come out with unique plans for four wheelers, two wheelers, commercial vehicles.


Types of auto insurance available:

Internet accessibility has made it convenient for consumers to shop around carious motor insurance companies - getting car insurance quotes and comparing them. Auto insurance online gives the Indian consumer the power to choose and flexibility to change car insurance companies when dissatisfied. Today, the Indian auto insurance market offers three major types of auto insurance:

Car insurance
Two wheeler and commercial vehicle insurance
Farm motor vehicle insurance

One can also opt for a personal accident cover for passengers and third party legal liability. Third party legal liability protects against legal liability arising due to accidental damages. It includes any permanent injury / death of a person and damage caused to the property.


Auto Insurance Claim Procedure:

Auto insurance quotes can be temporary and subject to constant changes. It is advisable to call the customer service cell of the insurance company before applying. Claims can be accidental, theft claims or third party claims.

» Insured should write the number of the other vehicle in case of an accident or third party claim
» Names of witness should also be written down
» File an FIR with the nearest police station
» Insured should then contact the insurance company and get a claim number
» A surveyor is appointed who reports the approximate value of loss or damage
» Based on the report of the surveyor, insurance companies try to send the amount to the insured within one to three weeks
» An individual might have to pay the repair charges himself and later get it reimbursed.


Documents Required for Auto Insurance Claim:

For Accident Claims

» Claim form duly signed
» RC copy of the vehicle
» Driving license copy
» FIR on a case-to-case basis
» Original estimate
» Original repair invoice, payment receipt from the service centre

For Third Party Claims :

» Claim form duly signed
» Police FIR copy
» Driving license copy or, RC copy of the vehicle

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