Indian law makes it compulsory for you to insure your motor vehicle. This is to save you against 3rd Party claims which my ruine you otherwise. Insure your car with out fail. It offers you protection against damages to your car also.
It helps cover against theft, financial loss caused by accidents and any subsequent liabilities. The cover level of Car insurance can be the insured party, the insured vehicle, third parties (car and people).
The premium of the insurance is dependent on parameters like vehicle classification, cover to passengers, no claim bonus etc.
Along with the public sector insurance companies there are many private insurance companies today. All are governed by IRDA laws.
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