Availing a car insurance? Here's everything you need to know
Updated : August 13, 2019 03:02 PM IST
The insurance works this way: If an individual is fortunate enough to not have a serious enough accident to want to claim, then they can lose the premium amount paid for protection.
On the other hand, a person can get a No Claim Bonus, which is a pretty substantial amount- starting from 20 percent of the premium in the first year to 50 percent in the sixth- which is why it's sometimes advised not to claim for minor damages.
Under third party legal liability, the car insurance protects you against any legal liability of accidental damages that have resulted in permanent injury or death of a third party.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more