Motor
Insurance
What You Get with Athworth Wealth Motor Insurance?
Claim Support & Guidance
Committed support to guarantee quick, easy, and stress-free claim resolutions.
Policy Renewal Assistance
Take advantage of smooth, trouble-free insurance renewals with no delays or downtime.
Recommendations for Add-On Coverage
Wise suggestions for additional protection such as roadside assistance and zero-depreciation.
What is Motor Insurance?
All vehicles in India, including trucks, cars, jeeps, bikes, scooters, and more, must have motor insurance. This policy protects the driver or owner of the vehicle against potential financial losses brought on by collisions or other types of damage.
Plans for auto insurance are the finest kind of protection you can get to avoid incurring large costs due to an accident. For the safety of people who travel by car on a daily basis, the government also mandates that they obtain personal accident insurance.
Purchasing a car is without a doubt the second most costly purchase in a person’s life, behind purchasing a home. Therefore, it is essential to safeguard the investment against unanticipated circumstances. Given the increased cost of auto repairs and the dangers of driving, an unfortunate collision might leave you with a sizable debt.
EV Insurance for Everyone!
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Electric Car
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Electric Bike
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Electric CV
Safeguard your income and insure your electric commercial vehicle.
Types of Motor Insurance on the Basis of Policy
Whether you are in the market for a private car, a two-wheeler, or a commercial vehicle, motor insurance plans usually get grouped into four main types, kind of broadly, not too neatly though:
Comprehensive Insurance Policy
A comprehensive motor insurance policy gives the most protection for your vehicle. It includes third-party liabilities too, like injury, death, or damage to someone else’s property, plus damage to your own vehicle. So whether it is your car, your commercial vehicle, or that two-wheeler, if an accident happens, or fire breaks out, theft occurs, or you face things like natural disasters, even man-made incidents such as vandalism, this type of cover is meant to back you financially. You can also stack on add-ons with these motor insurance plans, things like zero-depreciation cover, engine protection, or roadside assistance.
Third-party Insurance Policy
A third-party motor insurance policy is basically liability protection that applies in a similar way across all vehicles. According to the Motor Vehicles Act, 1988, third-party car insurance and third-party bike insurance are compulsory for vehicles running on Indian roads. If someone does not follow it, they could end up paying heavy penalties, as outlined under the Motor Amendment Act 2019.
Standalone Own Damage Car Insurance
Standalone own damage insurance is built only for protecting your own vehicle from unforeseen damage. It works well if you already have a valid third-party policy. Once you already hold third-party cover, you can opt for standalone own damage car insurance to get extra protection for your vehicle, without going for a full comprehensive plan.
Pay As You Consume (Usage-Based) Car Insurance
Pay as you consume insurance is a more modern and flexible setup, especially for people who do not drive much. Instead of a single fixed premium, the cost you pay is tied to the kilometres you plan to use. Drive less, pay less. These motor insurance plans tend to suit households that use a vehicle only occasionally, folks who work from home, or anyone who prefers public transport for the everyday commute.
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Types of Motor Insurance on the Basis of Vehicle Type
You can choose from one of these three car insurance policies based on the type of vehicle you own:
Car Insurance
Getting auto insurance is the best way to protect your personal four-wheeler. It is an agreement between the insurance provider and the car owner that addresses third-party liability as well as a comprehensive policy. This plan will provide you with advantages such as:
- Cashless claims
- Coverage for personal accidents
- Protection against loss and harm
- Liability for third-party death and injury claims is unlimited.
Two Wheeler Insurance
As the name suggests, two wheeler insurance or bike insurance is meant for scooters, bikes, and other two wheelers. It is a kind of vehicle insurance that helps make the ride safe, because two-wheelers have slightly more risks around personal injuries. The perks included in the motor insurance plans are:
- Comprehensive coverage
- 2/3/5 years of own damage motor insurance
- No claim bonus protection
Commercial Vehicle Insurance
Compared to private automobiles, commercial vehicles are more vulnerable to damage. Therefore, business car insurance enables drivers to lessen the damages resulting from unfavourable incidents. Tractors, cranes, taxis, vehicles that transport cargo, vehicles that transport passengers, etc. are all involved. The advantages will consist of:
- Unlimited liability protection for lawsuits involving injuries and fatalities
- Loss and damage protection through personal accident insurance
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Documents Required to Buy Motor Insurance Online
The following lists the paperwork needed to purchase auto insurance plans online.
- Proof of Identity
- Proof of Address
- Driving Permit
- Certificate of Vehicle Registration
Get Covered Before Your Next Drive.
FAQ's
The registration certificate for your car, your driver’s license, identification, and your address are usually required in order to obtain any motor insurance policies from Athworth. If you’re renewing your coverage with certain insurers, they could additionally ask for extra paperwork, such as a prior policy.
It is possible to add more drivers to your auto insurance policy; but, depending on the insurance company, the coverage for additional drivers may differ. Each driver’s name, age, and driving record are among the facts you must supply. Depending on the additional drivers’ risk profile, this could have an impact on your premium.
A change or addition to your current auto insurance policy is known as an insurance policy endorsement. It may involve modifications such as adding a new driver, changing your address, or adding more coverage choices. Endorsements guarantee that your policy appropriately represents your present situation and needs.
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Athworth Wealth Pvt Ltd is a leading financial services firm dedicated to empowering clients and channel partners through innovative investment solutions and cutting-edge technology.
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