Motor Insurance
Iiflinsurance11 Nov, 2021Finance
The Motor Vehicles Act, 1988, third-party insurance is a legal necessity in India. Motor insurance is a contract between the insurer and the vehicle owner in which the insurer agrees to pay a predefined sum in the event of a financial loss caused by an unanticipated event. This amount of insurance is paid in lieu of a premium paid to the insurance company by the vehicle owner. Buy Motor Insurance online in India at IIFL Insurance. Vehicle Insurance plan covers cars, bikes, scooters and commercial vehicles against loss due to theft or physical damage caused from accidents, natural or man-made calamities.
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