MANAGEMENT

Detailed explanation-1: -Third-party insurance, which is also sometimes referred to as ‘act-only’ insurance is a statutory requirement for all vehicle owners as per the Motor Vehicle Act. It is a type of insurance cover where the insurer offers protection against damage to the third-party vehicle, personal property and physical injury.

Detailed explanation-2: -On the other hand, A comprehensive insurance policy provides cover to your vehicle against damage due to accident, fire, theft, cyclone, flood etc. Along with this cover, it covers any third party liability .

Detailed explanation-3: -A comprehensive policy, as the name suggests, offers overall protection against damages to both parties involved in an accident. This scheme is extensive, and it covers damages to car, theft, legal liability to third-party, and personal accident cover.

Detailed explanation-4: -Comprehensive car insurance policy Comprehensive car insurance is the most extensive policy type and covers third-party liabilities as well as own damage costs, loss due to theft, natural disasters etc. You will receive the IDV or the total market value in case your vehicle is stolen or damaged beyond repair.