Motor Vehicle Insurance :
Motor Vehicle Insurance, also referred to as ‘Automotive Insurance’, is a contract of Insurance under which the Insurer indemnifies the Insured, who is the owner or an operator of a Motor Vehicle, against any loss that he may incur due to damage to the property (i.e. the Motor Vehicle) or any other person (i.e. Third Party) as a result of an accident.
There are two types of Motor Insurance viz:
- Mandatory Motor Vehicle Insurance
- Comprehensive Motor Vehicle Insurance
