GENERAL INSURANCE
General insurance is the insurance of assets, financial assets included. If, due to a contingency which is covered under the plan, there is an economic loss, the loss is compensated by general insurance policies.
Features of motor insurance plans
- There are two types of policies available in the market – third party liability and comprehensive.
- Third-party plans are legally mandatory while comprehensive plans are voluntary.
- Third-party plans cover only the financial liability suffered if you harm any individual or third party property.
- Comprehensive plans also cover the damages suffered by your vehicle itself.
- There are different motor insurance policies covering cars, two-wheelers and commercial vehicles.
