What are the types of motor insurance?

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 three types of motor insurance?

Types of Motor Insurance

  • Private Car Insurance Policy. This is motor insurance that needs to be taken for any private car owned by an individual and is mandated by the Government of India. …
  • Two-Wheeler Insurance Policy. …
  • Commercial Vehicle Insurance.

How many types of motor insurance are there?

Amount of insurance coverage – Motor insurance plans can be divided into three types based on the amount of insurance protection offered: Third-party liability insurance – This is the most basic form of car insurance and hence, it is also the cheapest.

What are the classes of motor insurance?

There are various types of Motor Insurance Policies available which includes:

  • THIRD PARTY INSURANCE. This is the most basic form of Motor Insurance and hence, it is also the cheapest. …
  • COMPREHENSIVE MOTOR INSURANCE LIABILITY. …
  • WHAT IS NOT COVERED. …
  • ECOWAS BROWN CARD.
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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.

What are the types of motor vehicles?

For legal purpose, motor vehicles are often identified within a number of vehicle classes including cars, buses, motorcycles, off-road vehicles, light trucks and regular trucks. These classifications vary according to the legal codes of each country.

What are the two types of motor policies?

Types of Motor Insurance Policy

  • Third-party insurance policy: Third-party insurance policy offers liability cover. …
  • Comprehensive motor insurance policy: This type of motor insurance policy covers both own damage of insured vehicle as well as third party cover.

What are the six general types of insurance?

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 5 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 are the 7 different types of auto insurance you can purchase?

Here is a list of the seven types and what you need to know about each one.

  • Liability Insurance. …
  • Collision Insurance. …
  • Comprehensive Insurance. …
  • Uninsured Motorist Protection. …
  • Medical / Personal-Injury Protection. …
  • No-Fault Insurance. …
  • Gap Insurance.
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What is General Motor insurance?

Covers loss of car or damage occurred to your car. Unlimited Liablity. Unlimited Liability in case of Third-Party death/ injury claims. Cashless Claims. Hassle-free Cashless or instant settlement for all Own Damage Claims related to car insurance.

Which type of car insurance is best?

A comprehensive car insurance policy, on the other hand, covers both third-party liability and damage to your car. So, if you are looking for a basic plan with an affordable premium, a third-party liability plan would be an ideal choice.

What is the most basic car insurance?

Generally, the six basic car insurance coverages you’ll need are:

  1. Bodily Injury Liability Coverage. …
  2. Property Damage Liability Coverage. …
  3. Medical Payments or Personal Injury Protection (PIP) Coverage. …
  4. Comprehensive Coverage. …
  5. Collision Coverage. …
  6. Uninsured/Underinsured Motorist Coverage.

What is 3rd party insurance?

Third party – third party car insurance is the legally required minimum level of car insurance cover you need. It can cover the cost of damage to another person’s vehicle, as well as any compensation costs for injuries caused to other people. … It also covers you if your car is stolen, or damaged in an attempted theft.