What is Package policy in motor insurance?
What is Package policy in motor insurance?
Private car package policy: this covers loss/ damage to the vehicle insured (own damage) along with third party liability cover which includes bodily injury and/or death and property damage, personal accident cover for owner driver and passengers.
What are the 3 types of car insurance?
The three types of car insurance that are universally offered are liability, comprehensive, and collision insurance. Drivers can still purchase other types of auto insurance coverage, like personal injury protection and uninsured/underinsured motorist, but they are not available in every state.
How many types of insurance policies are here to cover vehicle insurance?
Amount of insurance coverage – Motor insurance plans can be divided into three types based on the amount of insurance protection offered: Third-party liability insurance – This is the most basic form of car insurance and hence, it is also the cheapest.
Which kind of insurance plan can you buy for your vehicle?
Car insurance policies can be broadly classified into two main types: Third-party liability insurance – This plan is also referred to as liability-only policy or act-only insurance. …Comprehensive car insurance – The comprehensive car insurance plan has more elaborate coverage.
What is liability coverage on a package?
A General Liability and property package policy includes General Liability insurance to cover your commercial liability and property insurance for physical assets, such as contents, that are leased or owned.
