Do you own a car? If yes, have you bought a car insurance policy for your vehicle? Third Party Liability Insurance is compulsory in India. A car insurance plan, also known as motor insurance policy, is availed to safeguard your car from unexpected risks.
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The car insurance policy covers losses due to theft, damage to the car in an accident/collision or non-collision physical damage suffered in a storm or breaking of the windshield. Car insurance policies are of several types and the premium depends on classification of the vehicle market value of the car, the category of coverage and so on. Even though you have a car insurance policy, you may not be able to make a claim due to the following reasons:
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Car users must read and understand the terms and conditions to ensure a hassle-free claim. While buying a car insurance policy, opt for a third-party liability cover which is mandatory according to the Indian Motor Vehicles Act and the Indian Road Safety Act. Shop around for an all-inclusive cover called a comprehensive car insurance plan, which also covers own damage. Check your risk profile and select a car insurance policy accordingly.
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