INSURANCE (Motor)

Cover against some damage. For this one has to pay little amount which is called a premium. If something damage happens then against that one get determined amount as a compensation.

THIRD PARTY INSURANCE

First Party: Related to owner.

Second Party: Related to the driver.

Third Party: Related to the which is hurt during an  accident.

IMPORTANCE OF INSURANCE

At the the time of an accident, it is the responsibility of the driver and owner of the vehicle to compensate the the injured person. There is no limit of such compensation. So some time it become difficult to owner and driver to pay the full amount to the affected person. This third party insurance cover is beneficial in that time.

COURT DECISION

As per the decision of the hon’ble Supreme court .3 (Three) Years for car & 5 (Five) Years for two wheeler insurance (Third Party) insurance is mandatory since September 18.

EXPANSION OF INSURANCE

Now a day’s Insurance is making its place everywhere. Life insurance is very popular and almost all know about Life insurance less or more. But now new types of insurance are also popular.Such as

General Insurance 

Mediclaim and many more.

TODAYS NEED

 Now a day’s everyone should understand the importance of insurance. This insurance can be very helpful as financial support. Therefore it is good to purchase an insurance policy against unexpected expenditure.

EXPERT OPINION

There is no harm to pay an amount as a premium against  insurance policy. At the time of need this little premium may be as a life saver.