Auto insurance is a legal as well as an essential requirement for all vehicle owners. If you have been wondering how car insurance premiums are calculated, here is everything you need to know. Understanding car insurance When it comes to offering a protective cover for your car in case of damage, theft or loss, a car insurance policy is your vehicle’s best friend. It also compensates for third party damage caused by careless driving. There are essentially two types of car insurance plans—comprehensive car insurance and third party insurance. Third party car insurance is mandatory for all vehicles as per law, while comprehensive car insurance is optional for old cars.
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