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Understanding the Terminology Used in Motor Insurance Plans

If you have a car, then getting a motor insurance coverage is mandatory. However, though third party motor insurance is compulsory, most people prefer getting a comprehensive insurance plan. https://www.libertyinsurance.in/private-car-insurance

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Understanding the Terminology Used in Motor Insurance Plans

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  1. Call us: 1800-266 5844 Understanding the Terminology Used in Motor Insurance Plans If you have a car, then getting a motor insurance coverage is mandatory. However, though third party motor insurance is compulsory, most people prefer getting a comprehensive insurance plan. This plan provides coverage for third party property damage and also provides proper insurance coverage for your car against any accidental damage that might be caused due to unforeseen circumstances. But before you get car insurance, there are certain important terms that you need to know. Given below, is a list of those terms and going through them will help you to get a good idea about the motor insurance plans:  Insured Declared Value or IDV is the most important term for a car insurance plan. This is the highest amount of money, that your insurer has to pay in case your car is stolen, or in case, if it is totally damaged and is beyond repair.

  2. Call us: 1800-266 5844  Own damage premium is another very important term related to a motor insurance plan. This is the amount that you pay, in order to get an insurance coverage up to a maximum of your IDV. This is the money that is paid, to the insurance provider in order to cover up for any loss that may be caused to the vehicle due to certain events that are completely beyond your control.  No Claim Bonus is a benefit that you get if you do not claim from your motor car insurance provider for a period of one year. This is like a gift that the insurer gives you for being a careful driver. Liberty Videocon General Insurance is a reputed insurance company providing you with motor car insurance and after getting fully acquainted with the important terms related to insurance, you can get your car insured through this company. Contact Us : Liberty Videocon General Insurance Company Address : 10th floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel Mumbai Maharashtra 400013 Website : https://www.libertyvideocon.com Phone No : 022-67001313 Fax No : 022-67001606 Email : care@libertyvideocon.com Social Connections : Facebook : https://www.facebook.com/libertyvideocon Twitter : https://twitter.com/LibertyVideocon LinkedIn : https://www.linkedin.com/company/liberty-videocon-general-insurance Google+ : https://plus.google.com/+LibertyvideoconIndia YouTube : https://www.youtube.com/user/LibertyVideoconIndia

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