Ashvini Risk Management

Motor insurance protects you financially if your vehicle is involved in an accident, theft, or damage due to natural disasters or other unforeseen events. In India, having at least third-party motor insurance is mandatory by law. This kind of insurance covers the damages to your vehicle and offers protection against legal liabilities arising from injuries or damages caused to third parties.

  • All types of vehicles : As per the Motor Vehicles Act, 1988 it is mandatory for every owner of a vehicle plying on public roads, to take an insurance policy, to cover the amount, which the owner becomes legally liable to pay as damages to third parties as a result of accidental death, bodily injury or damage to property. A Certificate of Insurance must be carried in the vehicle as a proof of such insurance.
  • Liability Only Policy (Third Party) : This covers third party liability for bodily injury liability and / or death and property damage. Personal Accident cover for Owner-driver is also included. Third-party motor insurance is mandatory by law in India. It covers legal liabilities from damages or injuries caused to a third party by your vehicle. This type of insurance ensures that you meet the legal requirements while protecting yourself from financial burdens related to third-party claims. Though it doesn’t cover damages to your own vehicle, it’s a crucial aspect of responsible vehicle ownership.
  • Comprehensive (Package) motor insurance : This cover loss or damage to the vehicle insured in addition to Liability Only Policy. Comprehensive motor insurance provides extensive coverage, protecting you against third-party legal liabilities and damages to your vehicle caused by accidents, theft, fire, and natural disasters. This policy ensures you have all-around protection, covering man-made and natural mishaps. Comprehensive motor insurance is ideal for vehicle owners seeking complete peace of mind.
  • Package Policy with add on covers : The policy can be extended to cover the extra risks on payment of additional premium.
  • Document Required for Motor Insurance :
    A) Proof of Identity : Passport, Driving License, Adhar Card, Pan card.
    B) Proof Of Address : Passport, driving License, Bank passbook.
    C) Vehicle Registration Certificate : A copy of Vehicle’s RC Book/card.
    D) Previous Insurance : For renewal, insurance policy is require for NCB benefit and to continue your existing insurance.
    E) For New Vehicle : Engine No., Chassis No. , Make, Model, GVW/CC, seating capacity, Ex showroom price etc.

 

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Ashvini Risk Management

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