Motor insurance is an insurance policy that protects the owner of the vehicle against any financial loss arising out of damage or theft vehicle. Motor vehicle coverage also includes damage caused to a third party or property.
Motor insurance is governed by Motor Tariff which came into operation from 2073.04.01 and it provides detailed terms and conditions, premium rates as well as policy forms, proposal forms, endorsements for insurance of different classes of vehicles.
Types of Motor Policy
- Comprehensive Insurance
- Third-Party Insurance