According to the Motor Vehicles Act, having a third-party car insurance policy is compulsory by law.
Third-party liability arises when the insured four-wheeler causes accidental damage to a third-party vehicle or property or injuries to a third-party person.
Cover against theftIf your four-wheeler or the car parts are stolen, then your car insurance policy can cover the financial damages and compensate you for the loss of the car or the replacement or repair of the car part
If there is a bump or deep scratch on your car due to an accidental collision or an act of vandalism can lead to financial damages
In case of floods, cyclones, storms, earthquakes or other natural calamities, your car can face significant damages and the extent of repairs can get costly
With a car insurance policy, you can avail of a personal accident cover of up to ₹15 lakhs, as per guidelines issued by the Insurance Regulatory and Development Authority of India,