Welcome to Velocity Insurance

Motor Insurance in India is mandatory by law. Any vehicle running in public place has to be insured against third party losses i.e. Death, Injury and Property Damage.


It can be classified into four broad categories according to the use of the vehicles


Car Insurance

This type of insurance covers cars for personal use.

Two Wheeler Insurance

This type of motor insurance is meant for two wheelers.

Commercial Vehicle Insurance

This type of insurance covers vehicles used for hire and reward - both for goods carrying and passengers. Example: buses, trucks, tractors, taxi cars and ambulances not used for personal use.

Miscellaneous Vehicle Insurance

Vehicles used for miscellaneous purposes are also covered as ‘commercial vehicles’. 


Example: ambulances, agriculture tractors, mining equipment, etc.

Types of Cover Available Under Motor Insurance
  • Act only to cover the Third Party Liability as per Motor Vehicle Act
  • Act only and fire and/ or theft
  • Comprehensive
Comprehensive Motor insurance covers
  • Loss or damage to the insured vehicle
  • Compensate against Death or injury to the third party and or damages to the property of third party arising out of the use of the insured vehicle
Motor Insurance Does Not Cover
  • Wear and tear due to normal ageing of the vehicle
  • Damage done to or by the person driving without a valid and effective license
  • Damage done to or by a person driving under the influence of alcohol or any other prohibited narcotics
  • Loss or damage by war
  • Mechanical or electrical breakdown
Sum Insured/ Insured’s declared value

All vehicles have to be insured at a fixed value known as Insured Declared Value or IDV. It is calculated on the vehicle’s present invoice price less depreciation as per the schedule given in the Indian Motor Tariff.


Contact Us before the next insurance due date and get competitive quotes (across insurers) for your motor insurance policy.