Car Insurance Policy

After this period the insurance policy lapses.
Car insurance policy. It is advisable to undertake car insurance renewal on time so as to benefit from the no claim bonus ncb. If you re buying a car with a loan you may also be required to add collision coverage to your policy. Car insurance policy is a type of insurance policy required to provide protection to your vehicle against any damage which might result into a financial loss. Car insurance is a type of vehicle insurance policy that protects your car car owner from any risks damages that may lead to financial losses.
Contractors all risks car insurance is a non standard insurance policy that provides coverage for property damage and third party injury or damage claims the two primary types of risks on. Most states require by law that you have basic auto insurance that covers liability. Car insurance is required mainly for the following reasons. If policy lapses car insurance renewal can be done within 90 days you may still benefit from the ncb.
If you re looking to buy a car insurance policy you can compare cheap car insurance quotes from a wide range of providers with just a few clicks of the mouse at moneysupermarket. As per the motor vehicle act 1988 it is mandatory to buy a liability only policy without which one cannot use the vehicle on road. There are two types of car insurance policies you can purchase comprehensive motor insurance policy or third party insurance policy. Car insurance is a contract between the motor vehicle company the car owner that provides on road protection against any loss or damages arising due to an accident.
Comprehensive coverage offers both own vehicle damage as well as third party liability protection. Third party insurance on the other hand covers third party liability only. But before making any decision make sure you compare the deals available at different levels of cover third party only third party fire and theft and fully. A third party liability policy is compulsory for all vehicles but you can decide to go for a comprehensive car insurance policy too.
Another type of policy that is often required is auto insurance.