Motor insurance is one type of insurance coverage which enables for all types of motor vehicles including motorcycles, cars, jeeps, commercial vehicles and so on. The motor insurance is necessary for the protection and safety of the vehicle users and it make mandatory by the government.
Types: Private Insurance Policy and Commercial Vehicle Insurance.
Benefits: This type of insurance provide optimum protection of the vehicle users and act as a financial cushion during the crisis. This insurance policy reduces the risk of legal action by the vehicle owners. Also motor vehicle insurance take care of any third-party liabilities which might incur due to any damage suffered by the vehicle owners.