Motor Insurance

Intermediate

Master Motor Insurance in India — from policy types, IDV calculation, and NCB rules to claim settlement, MACT tribunals, fraud detection, and arbitration. Built for POSP agents, claims professionals, and insurance intermediaries operating under IRDAI regulations.

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9 Sections

Types of Motor Policies (TP, Comprehensive, OD, Add-ons)

Motor Insurance in India is broadly classified into three types: (1) Third-Party Liability Only (TP) policy — mandatory ...

8 MCQs5 FAQs

IDV Explained with Calculation Examples

Insured Declared Value (IDV) is the maximum sum insured under a motor insurance policy, representing the current market ...

8 MCQs5 FAQs

NCB Calculation & Transfer Rules

No Claim Bonus (NCB) is a reward given by insurers to policyholders who do not make any claim during a policy year. It i...

8 MCQs5 FAQs

Claim Settlement (Partial Loss)

A Partial Loss claim in motor insurance arises when the insured vehicle sustains damage that is repairable — i.e., the c...

8 MCQs5 FAQs

Total Loss & Constructive Total Loss

A Total Loss (TL) in motor insurance occurs when the vehicle is completely destroyed or damaged beyond economical repair...

8 MCQs5 FAQs

Motor Accident Claims Tribunal (MACT)

The Motor Accident Claims Tribunal (MACT) is a quasi-judicial body established under Section 165 of the Motor Vehicles A...

8 MCQs5 FAQs

Common Motor Insurance Frauds

Motor insurance fraud involves deliberately misrepresenting facts, staging incidents, or inflating claims to obtain wron...

8 MCQs5 FAQs

Arbitration in Motor Claims

Arbitration in motor insurance is a dispute resolution mechanism where disagreements between the insurer and insured (ty...

8 MCQs5 FAQs

IRDAI Regulatory Updates 2024–2026

Between May 2024 and 2026, IRDAI rolled out the largest set of policyholder-protection reforms in over a decade. The hea...

5 MCQs5 FAQs