Motor insurance is a contract between the customer and the insurance company that gives protection against financial loss in the event of an accident or theft. In exchange for your paying a premium, the insurance company agrees to pay your losses as outlined in your policy.
Depending on the scope of coverage, there are 3 types of car insurance policies – Third-Party Car Insurance, Standalone Own-Damage (OD) Car Insurance, and Comprehensive Car Insurance. Third Party Insurance is a statutory requirement. The owner of the vehicle is legally liable for any injury or damage to third party life or property caused by or arising out of the use of the vehicle in a public place. Driving a motor vehicle without insurance in a public place is a punishable offence in terms of the Motor Vehicles Act, 1988.
The basic motor insurance coverages provided by most of the insurance companies can be listed down as :
- Fire, Explosion, Self- Ignition, Lightning
- Burglary/Housebreaking / Theft
- Riot & Strike
- Earthquake
- Flood, Storm, Cyclone, Hurricane, tempest, inundation, hailstorm, frost
- Accidental external means
- Malicious Act
- Terrorism acts
- While in Transit by Rail/ Road, Inland waterways, Lift, Elevator or Air
- Land slide / Rock slide
We, at Saferisk, work with all the general insurance companies that provide Motor Insurance. Our transparent and quick process, availability of top-rated four wheeler insurance plans, full assistance during claim settlement and dedicated customer support team makes us one of the most reliable insurance brokers for motor insurance.
