Motor Insurance

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Motor Insurance

Motor insurance is a type of insurance policy that provides financial protection against physical damage or bodily injury resulting from road accidents or theft involving motor vehicles. It is mandatory in India for all vehicle owners to have motor insurance in order to legally operate their vehicle on public roads.

Motor insurance policies typically cover a variety of incidents, such as accidents, theft, fire, and vandalism. The coverage offered can vary widely depending on the policy and the insurer, but may include liability coverage, collision coverage, comprehensive coverage, personal injury protection, and uninsured/underinsured motorist coverage.

Liability coverage typically covers the costs of damages or injuries that you cause to other people or their property while operating your vehicle. Collision coverage covers the cost of repairing or replacing your vehicle if it is damaged in an accident. Comprehensive coverage covers the cost of repairing or replacing your vehicle if it is damaged due to theft, fire, or other non-accident related incidents.

Personal injury protection covers the cost of medical expenses for injuries sustained by you or your passengers in an accident, regardless of who was at fault. Uninsured/underinsured motorist coverage protects you in case you are involved in an accident with someone who does not have enough insurance to cover the damages.

The cost of motor insurance can vary widely depending on factors such as your driving record, the make and model of your vehicle, your location, and the coverage options you choose. Lifemart helps its clients to compare policies from different insurers to find the best coverage at the most affordable price