Owners of motor vehicles need motor insurance, sometimes called auto insurance or car insurance. It also protects against any monetary loss arising from accidents, theft, or damage to the insured car, thereby providing peace of mind to the drivers.

Types of car insurance

Comprehensive Insurance: This type of insurance provides adequate protection, which includes coverage for third-party liabilities and injuries caused to you or your car. It protects against accidents, theft, fire, burglary, and natural calamities.

Insurance for third parties only covers your liabilities or loss due to an accident, such as injury or bodily damage. In most jurisdictions, this is a required condition.

When obtaining auto insurance, you must pay a premium, which is the cost of protection for a set period of time, usually one year. The cost of the premium is affected by your driving record, age, region, and the type of insurance you choose. A deductible is the amount you are responsible for paying out of pocket before the insurance provider covers the remaining costs in case of a claim.

• Options for coverage: Depending on your needs, insurance companies offer several add-on options. Popular examples include:
• Roadside Assistance: Covers for emergencies and breakdowns while driving, which includes tire replacement, towing, and other services.
• No-Claim Bonus (NCB): An incentive for not making any claims during the entire policy term, thereby reducing the premium on renewal.
• Additional protection against unforeseen injuries or death to the driver and passenger in the insured vehicle.

Claiming: You must immediately notify your insurance company about any accident or other covered event and submit a claim. As per the terms and conditions of the insurance, the insurer will assess the loss and handle the claim accordingly.

Motor insurance is essential for prudent vehicle ownership as it provides financial security and guarantees your ability to drive confidently. The right vehicle insurance policy can help you move confidently, be it a comprehensive plan with comprehensive coverage or legally required third-party insurance.