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While purchasing a vehicle may in itself be a costly affair it is important to also remember that it is important to ensure the safety of your vehicle. With no power over accidents or collisions, you can never predict when your vehicle may be damaged or there may be damage to the people involved. You may also damage third party property or people as well. So how can you equip yourself in such situations? Many car insurance companies as well as dealers are known to provide you with car insurance policies for your vehicle. They may be for private or public vehicles, commercial vehicles, trucks, motorcycles or any other type of road vehicles. These policies are the most important ways by which you can financially protect you from bodily injury as well as physical damage. Very often, in many countries are considered to be compulsory by law to have. In India, these policies are mandatory to purchase and provide accident coverage for people who own the vehicle while driving as well as for other passengers and third party liability. Some of the different types of policies in India include: 1) Private Car Insurance: One of the fastest growing sectors in auto insurance, this insurance policy is compulsory for all new vehicles. The amount at which a person pays for the premium depends on the value and make of the car. It is also dependent on factors such as the state where the car was registered and the year of manufacture. 2) Two Wheeler Insurance: A two wheeler insurance policy is covers policies for all the two wheelers, scooters as well as motorcycles in the country. These policies offer coverage depending on the current showroom price which is multiplied by the depreciation rate which has been fixed by the Tariff Advisory Committee at the time of the beginning of policy period. These policies cover accidental insurance for the drivers of such vehicles. 3) Commercial Vehicle Insurance: Having a wide segment in the country, commercial vehicle insurance provides coverage for all the commercial vehicles inclusive of trucks, taxis, HMV’s as well as any vehicles which are not used for personal purposes. There are a number of general insurance companies which are known to offer different car insurance policies. The claims that are made for these policies can be on the basis of accidental, theft claims or even third party claims. However, the coverage amount that each policy offers is different from another and it depends what you want in to insure while purchasing your policy. Choosing the right type of car insurance might be overwhelming and many people may find themselves pampered with choice. With the number of car insurance companies offering their services online, it has become far easier for people to buy car insurance online within a few minutes. People can also view open and maintain an account with the car insurance companies where they can view the details of their policy. There is also the option of car insurance renewal online where they can renew their policy within a matter of a few minutes without having any headache of visiting the outlet. While people initially relied on visiting the car insurance company or other traditional methods of purchasing their policies, in today’s times it has become far easier and faster for people It has become easier for people to browse various insurance policies that are available in the market and compare them as well. They can compare them and find a policy which suits their requirements as well as well as budget. There are also options for people to search for cheap car insurance policies. The internet thus is a power tool for car insurance buyers to use.
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