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In India, under the Motor Vehicles act, third party insurance is mandatory. By Third Party insurance for automobiles, we mean that coverage for a third party other than the owner of the car- who may be injured in the event of an accident needs to be insured by every vehicle on the Indian roads. Every car insurance in India whether personal or comprehensive must mandatorily provide cover for third parties.

In comprehensive car insurance in India, the third party insurance is covered automatically. Besides this, the insurance covers damage to the car and its driver from many mishaps. Such mishaps or calamities could be natural or manmade.

A few basics that every policy under motor insurance India includes are:

• The sum insured is fixed value called the Insured’s Declared Value(IDV)

• IDV is calculated on the basis of the manufacturer’s listed selling price of the car plus listed price of accessories if any minus the depreciation foe every year according to the Indian Motor Tariff schedule.

• If price of any electrical or electronic item fitted in the car is not included in manufacturer’s listed selling price, the actual value after depreciation of this item is added to IDV.

• Car insurance in India also gives information on the premium to be charged for new as well as old cars.

The premium charged on auto insurance depends upon the following factors:

• Type of vehicle

• Age of vehicle

• Period of coverage for less than 12months.

While getting car insurance in India you should also be aware of the guidelines for auto insurance stating the cover policy and calculation of the premium amount.

Generally the auto insurance does not provide cover for:

• Normal wear and tear of the car

• Depreciation

• Car being used for purpose other than what is stipulated.

• Damage caused to the car when driven by a person without valid license.

• Damage to the car by a person driving under the influence of alcohol.

• Loss or damage due to wars, mutiny or nuclear risk.

You can make use of the internet to get an auto insurance policy after verifying the premium from an online premium calculator.the internet not only provides for online car insurance but various other facilities such as international insurance, online insurance for two wheelers as well as online renewal facilities.