All you want to know about motor insurance

3. In case of any accident do I need a FIR to claim insurance?

In case of any accidental claim you will need a FIR for third party injury or damage especially in the case of major ones like highway accidents.

4. Can motor insurance policies be issued for longer term than a year?

Normally the term of the motor insurance policy is one year. However the policy can be extended by a period of less than 12 months, however an explanation is required for the reason of extension.

5. On sale or transfer of vehicle, what happens to the bonus?

As soon as the vehicle is transferred or sold the policy should be transferred to the new owner, but in this case still “The no claim bonus” remains with the original owner and can be used in another vehicle.

6. What if the accident takes place in any city other than where the policy was issued?

The insurance policy provided in India is applicable throughout the country. The policyholder can file a claim even if the accident takes place in city or location other than where the policy was issued.

7. What is commercial vehicle insurance?

Commercial insurance covers all the vehicles that are not meant for personal use such as passenger carrying commercial vehicles, trucks, tractors, ambulance and cinema vehicles. If the commercial vehicles does not have the permit to carry on commercial activities for certain regions, and if any accident takes place then, the claim for damages may be considered invalid.