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Types of car insurance plan provided by Kotak General Insurance

 Types of car insurance plan provided by Kotak General Insurance

Let's look at the many types of car insurance policies available in India. You can simply choose the right coverage after understanding different types of car insurance policies.

Car insurance is a tool that protects you from financial losses that may arise as a result of another accident or unexpected accident related to your vehicle. It is important to get a basic car insurance policy because it is required by the Indian car tariff. However, before choosing a vehicle insurance policy, you should know the various types of car insurance plans on the market. You can simply choose an appropriate policy depending on your budget and requirements after you have a good understanding of different insurance plans.

Types of car insurance plan

Kotak General Insurance offers three types of car insurance policies: third party, independent private damage, and comprehensive insurance.

Third-party car insurance

Liability coverage is sometimes known only as third-party insurance. This is the basic insurance policy required in India to avoid legal consequences. This coverage protects you from any financial obligations you may incur to a third party as a result of an accident involving your vehicle. Coverage of this policy includes:

Damage to third-party property refers to losses to third property. The amount of compensation for damage to the property of third parties is Rs. 7.5 lakh.

Medical expenses for the treatment of injuries - the cost of treating injuries of others, such as physical injuries and partial and permanent disabilities.

Compensation for death - In the event of the death of a third party person, his family is compensated.


Private damage insurance on its own

The damage autonomous car insurance policy is designed to cover damage or losses to your vehicle only in the event of an accident or other unexpected event such as theft, fire or disaster Natural. This coverage compensates you for your vehicle's damage losses in the following scenarios:

Accidental damage - In the event of a traffic accident, the cost of repairing damage to your vehicle is covered.

In the event of a complete loss due to fire or explosion, you will be compensated in accordance with the declared insured value (IDV) of your vehicle.

Total loss as a result of theft - If your car is stolen, the insurance covers the entire loss by providing you with IDV.

Natural disasters - compensation for damage to your car caused by natural disasters such as floods, earthquakes, hurricanes, hurricanes, hailstorms, lightning and landslides.

Man-made disasters - losses caused by man-made disasters such as theft, air strikes, vandalism, riots or terrorist acts.

Car insurance wih full coverage

Many insurance companies refer to universal insurance as a comprehensive plan. This plan includes third-party insurance coverage and special damages. This coverage includes the following elements:

It covers all the conditions covered by the insurance for its own damages.

This plan also includes covering responsibility for third-party claims you incurred as a result of an accident involving your vehicle. It provides coverage of a third-party person's injury or death.

For damage to third-party property, compensation of up to Rs. 7.5 lakh is available.

Take away

Car insurance comes in a variety of forms, but you must choose one depending on your insurance needs and financial stability. To make an informed choice about the vehicle insurance plan, keep different forms of car insurance in mind. We hope that the information provided above will help you locate a plan that meets your requirements. Kotak Insurance promises to give consumers only the best by creating exclusively customized car insurance plans that comply with advanced digital infrastructure.

Read also:

How can modifications affect your car insurance in new India?

Ways to renew the car insurance policy in new India

Disclaimer: This article is published in the public interest and is intended for public information purposes only. Readers are advised not to rely on the contents of the article as crucial in nature, and further research or expert consultation should be conducted in this regard.