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Motor Insurance

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					MOTOR INSURANCE
Protect that precious vehicle of yours
               TABLE OF CONTENTS

•   The Indian Automobile Market
•   Automobile production & Supply
•   The Importance of Motor Insurance
•   Types of Motor Insurance
•   Private Car Insurance
•   Second Hand Car Insurance
•   Commercial Vehicle Insurance
•   Two Wheeler Insurance
•   Motor Insurance Policies Online.
           THE INDIAN AUTOMOBILE MARKET
• The automotive industry in India is one of the larger markets in the world.

• India's passenger car and commercial vehicle manufacturing industry is
  the sixth largest in the world, with an annual production of more than 3.9
  million units as of 2012.

• As of 2010, India is home to 40 million passenger vehicles. More than 3.7
  million automotive vehicles were produced in India in 2010 (an increase of
  33.9%), making the country the second (after China) fastest growing
  automobile market in the world in that year. According to the Society of
  Indian Automobile Manufacturers (SIAM), annual vehicle sales are
  projected to increase to 4 million by 2015.

• India had previously been one of the fastest growing globally, but is
  currently experiencing flat or negative growth rates. The dip happened in
  2013, a very bad year globally for major industries.

• Source : Wikipedia & SIAM.
                   AUTOMOBILE PRODUCTION DETAILS




Market Share – Passenger Cars
IMPORTANCE OF MOTOR INSURANCE
           Motor insurance (also known as vehicle / car / auto
           insurance) is insurance purchased for cars, trucks, and
           other road vehicles. Its primary objective is to provide
           protection against physical damage resulting from
           accidents, thefts & unforeseen circumstances.

           Motor insurance in India covers for the loss or
           damage caused to the automobile or its parts due to
           natural and man-made calamities. It provides
           accident cover for individual owners of the vehicle
           while driving and also for passengers and third party
           legal liability.

           Motor Insurance(Third Party) is compulsory on
           purchase of new vehicles whether acquired for
           commercial or private usage as per Motor Vehicle Act
           in India. One can be penalized for driving without a
           valid cover.

           Cars are an expensive investment for an individual. An
           accident can turn this investment into a huge loss as
           well. Hence it is important to have motor insurance.
MOTOR INSURANCE BASICS

 Motor Insurance covers :

 •   Accident caused by external means.
 •   Man made calamities, such as Explosion, Burglary, Theft, Riots &
     Strikes, Malicious Acts, Terrorism, etc
 •   Natural calamities like Earthquakes, Fire, Floods, Typhoons etc.
 •   While in Transit by rail/road, air or waterway.
 •   Third party legal liability
 •   Cover for an owner driver in case of death


 Motor Insurance doesn’t cover:

 •   Normal wear and tear of the vehicle due to usage
 •   Loss or damage due to depreciation of vehicle
 •   Electrical / Mechanical breakdown
 •   Wear and tear of consumables like tires and tubes
 •   Loss or damage incurred outside the geographical area
 •   Loss or damage caused as result of driving under intoxication (DUI)
     (alcohol/drugs)
 •   Loss or damage caused to the vehicle by a unauthorized person
     without valid driving license
 •   Loss or damage due to nuclear risks
           TYPES OF MOTOR INSURANCE POLICIES



                        Second Hand Car Insurance



Private Car Insurance



                                                         Liability Insurance




                           Motor/ Vehicle Insurance




                                                        Third Party Insurance
Two Wheeler Insurance



                         Commercial Vehicle Insurance
PRIVATE CAR INSURANCE


     It is compulsory for all the Private/ personal car
     owners to have a motor insurance policy . It is
     insurance for vehicles not used for commercial
     purposes. The amount of premium depends on
     the make and value of the car, state where the car
     is registered and the year of manufacture.

     Private Car Insurance Policy not only covers your
     car against the mandatory third party liability but
     also against the losses caused due to fire, theft,
     explosion, burglary, riots, strikes, earthquakes,
     flood, cyclones, accidents, malicious acts and
     terrorist activities.
TWO WHEELER INSURANCE

      India has one of the largest 2 wheeler production
      market. Two-wheeler (motorcycle or scooter) is
      perfect for quick mobility and convenience. But
      steering it around in today’s times is also risky.

      A 2 Wheeler Vehicle Insurance Policy offers a
      comprehensive insurance cover, which not only
      covers you for the liability arising out of the Third
      party but covers you against the loss or damage to
      your own two-wheeler.
COMMERCIAL VEHICLE INSURANCE




         A Commercial Vehicle Insurance Policy provides
         cover for all vehicles which are not used for
         personal purposes, rather for commercial purposes
         like good carrying vehicles like the Trucks, Tempos
         and HMVs.
THIRD PARTY MOTOR INSURANCE



          This type of policy only covers the third person
          who has been damaged or injured in an accident
          where the owner is accountable. It covers the
          insured person's liability to third parties' loss
          caused by an accident involving the auto vehicle
          of the insured. This refers to the minimum risks
          that are to be covered under the Auto Vehicles
          Act 1938 (Act Liability). It doesn't cover the
          expenses, damage, theft or injuries of the owner.
          This type of plan is made compulsory by the law
          of India.
LIABILITY INSURANCE




     Liability Insurance covers third party liability
     for bodily injuries and/or death and property
     damage. Personal accident cover for owner
     driver is also included.
SECOND HAND INSURANCE




         Insurance for your second hand car is as good
         as insurance for your private vehicle. However
         if you buy a second hand car, you need to
         renew its insurance policy.
                 BUY/RENEW CAR INSURANCE ONLINE




             •  Major Car Insurance companies are providing car insurance policies online.
                 • Car owners can register & buy a new car insurance policy online.
 • Existing Car owners can renew their car insurance policy from the same company or choose another.
• Buying & Renewing policies online is beneficial, since it requires no paperwork & can be done in 15-20
                                                 minutes.
THANK YOU

				
DOCUMENT INFO
Description: Motor Insurance policies covers your vehicle against various unforeseen mishaps such as theft & accidents. Commonly used Vehicle Insurance Policies are Private Car Insurance policy, two wheeler policy & commercial vehicle insurance. Motor Insurance Policies are available online.