Kochi: Owning a car is the dream of many. But insurance is something that many people don’t pay attention to while buying a car. Insurance is a must if the vehicle is to be put on the road.
Third-party
Insurance
Third-party insurance is a must if you want to take your beloved vehicle on the road. This insurance policy covers third-party damage caused by your vehicle.
Without a valid third-party insurance policy, the Department of Motor Vehicles or the police will impose heavy fines. An insurance policy with a term of three years for cars and five years for two-wheelers is required.
Comprehensive
Insurance
Third-party insurance is mandatory. But joining a comprehensive insurance plan is also very beneficial for vehicle owners. This will help you get coverage for losses to your own vehicle in addition to third-party.
Let’s choose
Appropriate policy
Your car dealer will provide you with insurance policies along with the vehicle. But check if it suits you. A suitable premium amount and plan can be selected by checking the insurance company’s website.
Be careful
I.D.V
IDV or Insured Declare Value is an important thing to keep in mind while choosing an insurance policy.
IDV is the amount of compensation paid through the insurance policy if the vehicle is stolen or damaged beyond repair. Compare IDV of insurance companies. Select the plan after checking what coverage they offer.