The wholesale sales figures for July
were the worst in the past two decades, with vehicle sales down by 31%. Reports
of companies holding production and retrenchment of employees are also scaring
people. But is that really the case? Because now the experts and the automobile
companies themselves are also looking at the split regarding the slowdown of
the automobile market.
Meanwhile, two big automobile
companies have also entered the market. MG Motors launched its SUV Hector and
Kia Motors landed the Celtos. Both trains received tremendous response. Celtos
has received more than 33 thousand bookings and the company says that it is
excited by this response. When Hector's booking reached more than 21 thousand,
he had to stop the booking. MG Hector's President and MD, Rajeev Chhabra said
that the company is excited about the success of this vehicle, we are currently
closing the booking to make sure people get the best quality.
Looking at the progressive business
auto in India, it can be said that the auto industry will regain momentum in
the coming times. The business of car insurance depends entirely on the
business of the auto industry. Now we come back to our topic car insurance and
what kind of risk car insurance policy covers, we talk about it?
What is car insurance?
Basically car insurance policies take
automobile liability on behalf of the car owner, covering the third party
liabilities, theft or damage to the car owner to the car. Car insurance policy
covers the damage to the car in an accident as well as injuries to the driver
and occupants of the car.
There are two main aspects of a car
insurance policy, third party and package policy. By law, it is mandatory to
have third party insurance while driving a car, although it is an option that
you can use it, including a comprehensive cover policy. There is no
compensation for damage done to your car in third party insurance. But this
policy covers any other vehicle or property damage.
Comprehensive insurance cover is a
wide range of insurance that covers the risk of car damage or car theft in an
accident. But this policy does not cover the regular defects in the components.
For example, car batteries and tires, which cause corrosion with use, are
generally not covered in comprehensive car policies.
If you do not make any claim for
insurance cover, then the insurance company also gives you a no claim bonus, in
which the premium is waived. These days, there are also policies that cover the
risk of zero depreciation, engine insurance cover, or other types of defects.
Are things not covered?
There are some examples under which
third party car insurance policies do not pay. These include cases when the
driver of the car is drunk or is driving a car without a license at the time of
the accident.
Likewise, the policy only covers the
depreciation value of parts that need to be replaced due to an accident, which
means in cases when the car door is damaged and cannot be repaired; That is,
the price of the new door in the car will be in the range of depreciation value
or you will have to bear the price difference.
The consumer should read his policy
carefully and know what things are covered in it. Motor insurance has added
many additional segments over the years, increasing the scope of the cover with
some cost. This includes risks such as engine safety, the drowning of a vehicle in
heavy rain, or an electronic panel malfunction.
There are also provisions that if you
do not use the car for a few days, you can also keep the policy closed for that
period. The policy will continue to cover the risk of theft during this period.
That is, you have to choose the policy you need from various options.
If you buy auto insurance online
instantly and review car insurance quotes click here: Car Insurance Quotes | Compare Insurance Policy | Renew Online
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