You may get confused while buying a new car as it is a big amount of investment. The same thing goes for car insurance policy. So, before choosing a proper car insurance policy, you should know about the right car insurance plan and which types of motor insurance plans are available in India. There are mainly two types of motor insurance plans in India – Third Party Liability and Comprehensive coverage. Here, we will discuss a brief about these policies. Just go through it.
- Third Party Liability: This plan is a mandatory one according to Motor Vehicles act in India. You need to purchase this plan, right after you buy a new or used car. This policy covers all the liabilities to a third party, when you are a faulty driver. If your car is in charge for any accident that causes damage to third party vehicle or any physical injury to third party, this coverage plays a key role.
- Comprehensive cover: If you purchase this policy, you can avail both liabilities third party and your insured vehicle. Thus, if you have this policy, you need not pay for any damages of your car as well as for the third party.