Most people before purchasing any residential or commercial property they used to get insurance for that particular property to claim money in case of future damages or any unfavorable condition occurs. Likewise, when you own a four-wheeler vehicle, it’s mandatory to apply for insurance at the recognized organization. Before applying for vehicle insurance, it is necessary to know about the two major types of insurances. The first policy is about bodily injury or death and property damage by others or personal accident and the second policy is a comprehensive plan that deals with loss or damage to the car in addition to the first policy. Hence the primary use of applying insurance is to claim financial protection against physical damage.
With this insurance, you can claim the loss from the organization directly according to the motor vehicle act at 1988. You can get back the amount for severe or light damages like fire, self-ignition, terrorism, burglary, theft, home breaking, and natural disasters like earthquake, storm, flood, landslide, etc. There are some factors that affect the total premium of a car. Some basic premium factors include the basis of the car value, vehicle age, cubic capacity, geographical zone; etc may affect your insurance claiming ability. So before claiming the insurance, ensure that you are not with the above premium factors.