Motor Insurance

The most vital document for all car owners/drivers is motor vehicle insurance. Its major goal is to provide total protection against physical damage or loss to the covered vehicle as a result of natural or man-made disasters. Aside from own-damage coverage, the auto insurance policy also covers third-party liabilities, such as damage, injury, or death to a third party due to an accident.

Importance of Motor Insurance

The main purpose of Motor Insurance is to provide financial protection against physical damage or bodily injury caused by traffic crashes, as well as responsibility that may follow from such incidents.

Vehicle insurance may also provide financial protection against vehicle theft and damage caused by incidents other than traffic crashes, such as:

  • Keying
  • Bad weather
  • Natural catastrophes
  • Damages caused by colliding with stationary objects

Types of Motor Insurance

  • Private Car insurance: This is mandatory automobile insurance for any private car owned by an individual, as regulated by the Indian government. It protects the car against damage caused by accidents, fire, natural catastrophes, and theft, among other things, as well as any injuries to the owner. It also covers any injuries or damages caused to a third party.
  • Two-wheeler insurance: The Government of India has mandated this insurance coverage, which covers two-wheelers such as a scooter or a bike. Losses to the two-wheeler from accidents, disasters, fire, theft, and other causes, as well as any damages and injuries to third parties, are covered. It also includes mandatory personal accident coverage for the owner rider, as well as optional coverage for passengers.
  • Commercial vehicle insurance: This policy insures all automobiles that aren’t utilized for personal purposes. This form of insurance applies to any automobiles that aren’t used for personal reasons. This insurance covers trucks, buses, heavy commercial vehicles, light commercial vehicles, multi-utility vehicles, agricultural vehicles, taxis/cabs, ambulances, auto-rickshaws, and other vehicles.

Types of Motor Insurance coverage options

  • Third-party cover
  • Comprehensive cover
  • Pay as you drive cover (Newly introduced)

Choosing Car Insurance

Car insurance is simple to get, but it requires time and a lot of research. Micro Orbit Fintech recognizes the necessity of having a good four-wheeler insurance policy and hence, we have put together the important points you should consider before selecting your coverage option:

  • Type of insurance options
  • Add-ons
  • Insured Declared Value
  • Cashless garage options
  • Examine the claim settlement ratio
  • Examine the feedback and services provided

Why choose Micro Orbit Fintech's Motor Insurance?

  • Quick and easy process
  • Customization of policy as required
  • Secure Buy/Renewal process
  • Easy process of switching the insurer
  • Completely transparent & quick process
  • With experience of 20+ years in this industry, our team will help you shortlist the best car insurance options available at the industry lowest rates
  • Pricing, benefits, & features side-by-side comparison with all available insurance companies for an easy decision-making process
  • Alerts and information on trending offers and discounts
  • Completely hassle-free process from beginning to end with the industry best deal

Need to know more?

We are here
To help you