Mahindra Insurance Brokers Limited is one of the leading Insurance Broker in India with presence across all Urban, Semi – Urban and Rural Areas and 18years of presence in the market. We are expertise in all types of insurance products. We have tie up with all insurance companies including public insurance companies. You can purchase your vehicle insurance (Bike, Tractor, Car) with best price in the market. The Process is very simple and you will get immediate policy certificate.
It covers the possible financial contingencies that you might face when using your Vehicle. Third party coverage is mandated by the Motor Vehicles Act, 1988 that covers third party liabilities resulting due to your two-wheeler. You can also opt for a comprehensive insurance policy to secure coverage against the damages suffered by your vehicle itself. What are the advantages of having a Vehicle Insurance Policy?
Following are some of the advantages of having an insurance policy for your vehicle:
· In case of any accident involving your vehicle, if you injure or kill any individual or damage someone’s property, you would be financially liable for the injury or damage caused. In case of accidental death, the liability is quite high. This however gets covered by your insurance policy.
· If your vehicle suffers heavy damage in an accident, the repair costs are quite high. Having a comprehensive vehicle Insurance will cover such repair.
· A vehicle Insurance plan is a mandatory requirement. If you don’t have insurance, you face legal consequences which include heavy fines and might also lead to imprisonment. So, buying a vehicle Insurance plan is necessary in this context too.
What are Factors required for premium calculation?
· Make, model and variant of the Vehicle
· Age of vehicle
· Location of registration
· Duration of cover– 1, 2 or 3-year policy
· Any add-on covers opted
It also depends on the pricing strategy of the insurance company