Motor Insurance Explained: Coverage, Premiums, Claims & What Vehicle Owners Should Know

Buying or renewing motor insurance can often be confusing, with multiple covers, add-ons, premiums and policy terms to consider. In this episode of Money Today, we decode the key aspects of motor insurance with insurance expert Deepak Yohannan, Insurance Expert. The discussion covers the difference between third-party, own-damage and comprehensive insurance, the impact of mandatory long-term third-party cover, and factors that determine premiums. We also explain Insured Declared Value (IDV), no-claim bonus, zero depreciation, roadside assistance and return-to-invoice covers. The episode also looks at policy renewals, claim rejections, cashless garage networks and motor insurance for electric vehicles. From choosing the right IDV and add-ons to comparing policies and selecting a trusted insurer, this masterclass offers practical insights for vehicle owners before buying or renewing their motor insurance policy.