Motor or Vehicle insurance is an insurance policy that protects the owner of the vehicle against any financial loss arising out of damage or theft of vehicle. Motor vehicle coverage also includes damage caused to third party or property. Owing to low value of two wheeler vehicles, their premium is very nominal.
Basic Motor Insurance coverage include: Loss or damage by accident, fire, lightning, self-ignition, external explosion, burglary, housebreaking or theft, malicious act. Liability for third party injury/death, third party property and liability to paid driver.
In the event that you're involved in an accident, or hit by an uninsured or underinsured driver, car insurance can help pay the costs of the repairs and medical bills. Car insurance also helps cover the passengers in your car and other drivers on the road if you are responsible for an accident.