What is Motor Insurance (Car/Bike Insurance)? — Meaning, Definition & Example
Definition
Motor insurance provides financial protection against damage to your vehicle and third-party liabilities. Third-party insurance is mandatory by law in India. Types include third-party only (cheapest), comprehensive (covers own damage + third-party), and standalone own-damage policies.
A comprehensive car insurance for a ₹10 lakh Hyundai Creta costs approximately ₹15,000-20,000 annually, while third-party only costs ₹3,000-5,000.
🇮🇳 Motor Insurance (Car/Bike Insurance) in Hindi / हिंदी में
मोटर बीमा — मोटर बीमा वाहन क्षति और तृतीय-पक्ष देनदारियों के खिलाफ वित्तीय सुरक्षा प्रदान करता है। भारत में थर्ड-पार्टी बीमा कानून द्वारा अनिवार्य है।
Motor Insurance (Hinglish) — Motor insurance vehicle damage aur third-party liabilities ke against financial protection deta hai. India mein third-party insurance kanoon se mandatory hai.