Wants care and protection? Believe in the security?? Needs official protection?? Who will take care of them? Who knows how much time he will live or not?? How they will manage after your death?? Did you ever notice that their lives become hell? As we all know that there is no certainty about the machine. Mostly this grantee is taken by the insurance companies.
Insurance is defined as the security of the product by paying some money to the insurance company. In other words, we can say that it’s protection money that the person pays for the security of the future.
Humans purchase luxurious things for their families and children. After the death of the person who will manage these expenditures. Most of us are feared of fire moving toward the fire insurance. Others who are interested in child education will select educational plans of insurance. In short, there are many kinds of insurance.
There are many kinds of insurance including business insurance, life insurance, pet insurance, land insurance, marriage plan insurance, health insurance, motor insurance, education insurance, personal accident insurance, agriculture insurance, property insurance, fire insurance, and many more are available.
Concept of motor insurance in developed and under developing countries?
One of the important insurance services includes motor insurance which is commonly known as vehicle insurance. Motor insurance is mandatory in developed countries such as the USA, UAE, Indonesia, Japan, Thailand, Denmark, China, France, and many more countries.
Now here are some questions why motor insurance is mandatory? What are the scope and benefits of motor insurance? What is motor insurance? Which companies offer motor insurance? What are the criteria for motor
insurance?
What is insurance??
The answer to the first question what is motor insurance the simple answer is that motor insurance is the kind of insurance in which a person pays money for countering the uncertainties. For managing this uncertainty person pays money to the insurance company when he got a car accident or car clash with someone. The insurance company will pay the loss.
Why do we need insurance?
And the answer to the second question about why we need motor insurance, as we all know that the rate of car accidents become high these days. Most of us need protection, and some want to manage everything may be certain or uncertain.
What are the eligibility criteria for insurance?
The most repeated question is which kinds of motors are eligible for insurance. For wheels and two wheels and more than that, the installment is differed according to the kind of vehicle and personal purpose.
Four wheels motors include Trucks, buses, heavy commercial vehicles, light commercial vehicles, multi-utility vehicles, agricultural vehicles, taxi/cabs, ambulances, auto-rickshaw, and many more. Two wheels include bikes, heavy bikes, mountain bikes, and many more in this list.
What are the kinds of motor insurance?
There are mostly two kinds of motor insurance available one is on purchasing and the other is after the purchasing. In the first situation of purchasing a motor the client pay and signs the insurance paper as well. And the second kind of client signs insurance after the purchasing.
As it is mentioned earlier motor insurance is mandatory in developed countries such as the USA, UAE, Indonesia, Japan, Thailand, Denmark, China, France, and many more countries.
Third Party insurance covers injury or death caused to a third person by your vehicle along with damage caused to property. Own damage car insurance policy helps you stay covered against the damages caused to your car due to accidents like fire, and theft.
There are many companies are working in Pakistan since its independence. They include Jubilee Life Insurance, Adam jee Insurance Company, EFU life insurance, United Insurance Company, TPL Direct Insurance, State Life Insurance Corporation of Pakistan, Pak Qatar General Takaful, and many more.
Best motor insurance in Pakistan?
- Adam jee Insurance Company
- United Insurance Company
Adam jee Insurance Company
The most popular insurance company in Pakistan is Adam jee insurance company. This insurance company is work since 1960 in Pakistan and India. Adam jet life insurance also has business in UAE. This company provides many services including engineering Insurance, Fire & Property Insurance, Health Insurance, Marine Insurance, Motor Insurance, Travel Insurance, Agriculture Insurance, Miscellaneous Insurance, and Financial Lines Insurance.
Adam jee insurance company provides the best service including motor insurance. In this service, they offer a customized plan that is according to the client’s income and the condition of the motor.
If we are discussing the best business and motor insurance company services company that includes United Insurance Company on the top. This service worked in the subcontinent before the partition. But after the partition, their work started again in Pakistan in 1959. It is recognized as the 4th largest insurance company in Pakistan.
The major services of the united insurance company include Health Insurance, Travel Insurance
Motor Insurance, Crop Insurance, Live Stock Insurance, Engineering Insurance. Like Adam jee, Insurance Company offers a customized installment plan that is affordable for the clients
