Comprehensive vs Third-Party Motor Insurance
In India, third-party motor insurance is mandatory — it covers your liability towards another person’s injury or property damage, but it does not cover damage to your own vehicle.
Comprehensive insurance includes third-party cover and adds protection for your own vehicle against damage, theft and (subject to policy terms) natural calamities. It generally costs more, but covers considerably more.
Two other terms worth knowing: IDV (Insured Declared Value) is your vehicle’s current market value and the maximum payout for total loss or theft; NCB (No Claim Bonus) is a premium discount for every claim-free year, which usually carries over across insurers and vehicles.
This article is for general educational purposes only. Actual premiums, IDV and coverage depend on the insurer, vehicle details and applicable regulations.