Auto Insurance and Car Insurance, Is it necessary for you?

Is Insurance Necessary for You?

In some Countries some kind of Insurance is compulsary. Different countries have different rules and regulations for insurance premium and their returning amout.

The More property you gain, the more risk of loss. It is wiser to do Insurance eventhough there is no accident....

Motor Insurance (also known as GAP Insurance, Vehicle insurance or car Insurance) is insurance for motorcycles, cars, trucks and other road vehicles. This insurance provide protection against damage or human injuries due to accident.
Motor Insurance Contracts are liable to the essential standards relevant to property and obligation protection when all is said in done. The manager of the vehicle must bear a lawful relationship to the vehicle whereby he or she stands to profit by the security of the vehicle, right, investment or opportunity from risk and stands to lose by any misfortune, harm, damage or production of obligation.

Required Document for Motor Insurance.

• Driving License Photocopy
• Route permit Photocopy
• Quotation and bills
• Description about accident from Vehicle Owner
• The required document incase of death of the driver, conductor or passengers.
• Police Report
• Accident Report Document

The car insurance covers (private car, motorcycle, motor scooter, commercial vehicles, goods transport vehicles, passenger bus, taxi, and a variety of vehicles such as ambulances, Publicity Van, etc.) to damage, as well as third party offers, including compensation. If there is no damage to the fulfillment may be related to skilled. More bank loans to finance a car or take the risk of cases, this is even more.

The sum of amount of premium is determined by the date of the registration of vehicle to the Vehicle and transport Department.

There is always the risk of thieft and accident of th vehicles and Automobiles. Evenmore there is higher risk for the 2 wheelers for the loss of the vehicle and their life. Eventhought you are riding your vehicle in safety, there may be the risk of accident due to the fault of other vehicles. Such Economial loss of vehicle and theift can be covered by Motor (vehicle, Passenger and Third party) Insurance. Most of the 2 wheeler owner does third party insurance of their vehicles. If the owner does the Motor insurnace, then only he can get protection from such thieft and accident. Most of the transport company does the insurance of passengers, workers as well as third party insurance. But private cars and 2 wheelers only doesn't even renew the third party insurance.

While Doing Motor Insurance, it is necessary to show the purpose of owing the vehicle. So that the insurance company wont pay the damage of the vehicle if the loss of the vehicle while working on other purpose that is not written in insurance paper.The detail information of insurer is to be written clearly in the insurance paper. The Insurance Company will not pay Insurance incase of loss due to the use of vehicle by person that doesnt have driving license. Fire, Thunder, loss of motor or damage of its parts,volcanic erruption, flood, landslide, high snowfall and sudden accident are covered by motor Insurance. Also Loss due to voilence, roit, vandalism are also covered by motor insurance. The insurance company use their expert to analyse the loss so while reporting to loss, we should not provide wrong information to them. This may lead to rejection of insurance or even may face legal problems.