Own Damage Cover
Any loss or damage caused to the vehicle as a result of natural and manmade calamities.
Natural Calamities – Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.
Manmade Calamities –Burglary, theft, riot, strike, malicious act, accident by external means, any damage in transit by road, rail, inland waterway, lift, elevator or air.
Third party legal liability
Protects against legal liability arising due to accidental damages, any permanent injury/ death of a person and/or any damage caused to the property.
Personal accident cover
The motor insurance provides compulsory personal accident cover of Rs. 50,000 for individual owner driver of the vehicle insured while traveling in, mounting or dismounting from the vehicle. You can also opt for a personal accident cover for other passengers in the vehicle.
Advantage of Anar Insurance
Anar Insurance encourages savings in the form of investments.Premium given for life insurance acts as savings for future.It helps in collecting and securing funds for security and safety for future needs.
Financial security is utmost important for survival in today’s world.Safeguarding family’s finances thru different kinds of insurance can be beneficial and act like a security for future.
The pooling of risk can be done from one or more sources. Hence spreading/dividing the burden from a single source.The risk could be single or multiple types.
Promotes business activities
Insurance activity builds and shapes different kind of opportunities as multiple service providing companies are linked once the insurance is matured.
Provides employment opportunities
Insurance is a progressive industry and with introduction and development of new policies in helps in creating new job opportunities which requires special skill sets.
Maintains economic stability
It converts accumulated capital to productive investments.It also helps in financial stability and promotes trade and commerce for economic development and growth.
Assures financial compensation
A financial compensation is provided in many types of insurance. If we take an example of Life Insurance, we realize that once the term has ended or due to the demise of the insured, the compensation is given to the family.