Six common car insurance coverage options are: auto liability coverage, uninsured and underinsured motorist coverage, comprehensive coverage, collision coverage, medical payments coverage and personal injury protection. Depending on where you live, some of these coverages are mandatory and some are optional.
What are the 3 types of motor insurance?
There are three main types of car insurance:
- Third-party, fire and theft.
What are the types of motor insurance?
Hence, it is important to buy a motor insurance policy that protects your vehicle just the way you would. In India, motor insurance is mandatory for a vehicle to drive on roads. The main objective of this insurance is to provide protection against loss or damage caused due to natural or man-made calamities.
What are the 7 types of insurance coverages to have?
Here are the seven most common types of insurance that every individual needs — or, at the very least, needs to consider.
- Health Insurance. …
- Life Insurance. …
- Disability Insurance. …
- Long-Term Care Insurance. …
- Homeowners And Renters Insurance. …
- Liability Insurance. …
- Automobile Insurance. …
- Protect Yourself.
What are the two types of vehicle insurance?
- THIRD PARTY INSURANCE. This is the most basic form of Motor Insurance and hence, it is also the cheapest. …
- COMPREHENSIVE MOTOR INSURANCE LIABILITY. This cover encompasses the Third-Party Liability coverage and Own-Damage cover. …
- WHAT IS NOT COVERED. …
- ECOWAS BROWN CARD.
What are 4 main types of coverage and insurance?
Most experts agree that life, health, long-term disability, and auto insurance are the four types of insurance you must have. Always check with your employer first for available coverage.
What are the five types of vehicle insurance?
5 Types of Car Insurance Coverage Explained
- Liability Insurance.
- Collision Coverage.
- Comprehensive Coverage.
- Personal Injury Protection.
- Uninsured /Underinsured Motorist Protection.
What is 3rd party in insurance?
Third-party: Claimant or person who raises a claim for damages caused by the first party. If the policyholder is involved in an accident with a third-party, then the policyholder is liable to pay for damages or injuries caused.
How many types of general insurance policies are available?
4 Different Types of General Insurance in India. General insurance covers home, your travel, vehicle, and health (non-life assets) from fire, floods, accidents, man-made disasters, and theft. Different types of general insurance include motor insurance, health insurance, travel insurance, and home insurance.
What is motor insurance India?
Motor Insurance is a type of insurance policy which covers your vehicles from potential risks financially. Policyholder’s car or two wheeler is provided financial security against damages arising out of accidents and other threats. In India, motor insurance is mandatory.
What are the four main types of car insurance?
There are four types of car insurance: Comprehensive, Third Party Fire and Theft, Third Party Property Damage and Compulsory Third Party Insurance (CTP). On this page, we will explain what each type covers, as well as the differences between the four.