Motor Insurance
Motor Insurance
Motor Insurance
Our mission is to safeguard every individual by offering personalized insurance advisory services to you and your loved ones. We are not just committed to creating the wealth but also to safeguarding the wealth by offering insurance services basic on our deep understanding of Indian communities and insurance market to secure you and your loved ones financially.
Being your dedicated insurance advisor, at every step, we guide you to secure the right coverage and ensure that you and your assets are always well protected.
Motor insurance provided financial protection against possible losses or damages that may have occurred because of an accident, theft, or any other unforeseen event with the vehicle. More than being advisable, it is mandatory to have motor insurance in India under the Motor Vehicles Act, 1988. This legal stipulation for motor insurance not only underlines its importance but is also for safeguarding, not only your vehicle, but also the other road users; hence, it is an essential part of responsible vehicle ownership.
We offer professional advice on the appropriate type of motor insurance that suits your vehicle and the intended usage. Here is a brief overview of the most popularly known motor insurances available in market:
Car Insurance
Comprehensive Car Insurance:
These cover damages to your vehicle, third-party liabilities, and personal accidents.
Third-Party Car Insurance:
This covers damage or loss to the third-party vehicle, property, or person/s involved in an accident.
Two-Wheeler Insurance
Comprehensive Bike Insurance:
It involves coverage for damages to your bike, third-party liabilities and personal accidents.
Third-Party Bike Insurance:
It provides insurance for the damages to third party property or injuries caused to other people in an accident.
Commercial Vehicle Insurance
Comprehensive Commercial Vehicle Insurance:
Insures commercial vehicles like trucks, buses, and taxis against damages, third-party liabilities and accidents.
Third-Party Commercial Vehicle Insurance:
Insures liabilities on account of damages or injuries caused to third parties by the commercial vehicle.
Financial Protection
The motor insurance policy provides very wide-ranging coverage against loss or damage caused by an accident, theft, natural disaster, or even vandalism. This will ensure that you are not burdened by any heavy bills for repair or liabilities.
Legal Compliance
Motor insurance is compulsory in India. Third-party insurance ensures that one fulfils their legal obligation with protection against damage to a third party.
Peace of Mind
You can drive with confidence with motor insurance, knowing that you are protected against sudden situations that might lead to huge financial losses.
And at Marfo Strategies Pvt Ltd, we provide an easy-to-use motor insurance premium calculator that will help you arrive at your insurance premium costs, considering factors like vehicle type, age, usage, etc. This is a tool to help enable the design of your insurance plan according to your needs and budget specifications. The calculator clearly sets out your premium costs and coverage options.
To apply for motor insurance in India, you must meet certain eligibility criteria and submit the required documents.
Eligibility:
The applicant must be the registered owner of the vehicle.
The vehicle must be registered with the Regional Transport Office (RTO).
The applicant should have a valid driving license.
Required Documents:
Vehicle registration certificate (RC)
Proof of identity (Aadhaar, PAN card, passport, etc.)
Proof of address (utility bill, rental agreement, etc.)
Driving license
Passport-sized photographs
Previous insurance policy (if applicable)
Fill the form
Fill out the application form. It takes only 3 minutes!
Answer your phone
a. Have a quick chat with our representative to learn about your Motor Insurance as per your requirement
3. Get a Life Insurance from best lender
Sit back and relax! You are on your way to secure yourself and your vehicle.Motor Insurance FAQs
LAP is a secured loan wherein one pledges his/her residential, commercial, or industrial property as collateral to borrow funds. The amount that can be borrowed is normally up to a certain percentage of the market value of the property.
Eligibility for a Loan Against Property would normally be extended to salaried employees, self-employed professionals, and business owners in possession of a property with clear title deeds. Eligibility depends upon the income of the borrower, credit score, and the value of the property.
The loan amount generally ranges between 50% and 70% of the current market value of the property. The exact amount, however, depends upon factors such as the type of property, location, its condition, and financial profile of the borrower.
Interest rates on Loans Against Property are usually lower than unsecured loans but higher than home loans. They usually start from 8% to 14% per annum, depending on the lender, loan tenure, and creditworthiness of the borrower.
The repayment tenure for LAP can range from 5 to 15 years, depending on the lender's policy and as preferred by the borrower. Longer tenures may result in a lower EMI but higher overall interest cost.
Motor Insurance FAQs
LAP is a secured loan wherein one pledges his/her residential, commercial, or industrial property as collateral to borrow funds. The amount that can be borrowed is normally up to a certain percentage of the market value of the property.
Eligibility for a Loan Against Property would normally be extended to salaried employees, self-employed professionals, and business owners in possession of a property with clear title deeds. Eligibility depends upon the income of the borrower, credit score, and the value of the property.
The loan amount generally ranges between 50% and 70% of the current market value of the property. The exact amount, however, depends upon factors such as the type of property, location, its condition, and financial profile of the borrower.
Interest rates on Loans Against Property are usually lower than unsecured loans but higher than home loans. They usually start from 8% to 14% per annum, depending on the lender, loan tenure, and creditworthiness of the borrower.
The repayment tenure for LAP can range from 5 to 15 years, depending on the lender's policy and as preferred by the borrower. Longer tenures may result in a lower EMI but higher overall interest cost.