Motor insurance is an essential requirement for all new vehicles. This applies for both commercial and personal use. Under the provisions of Motor Vehicles Act, all vehicles that ply in public places must have an insurance policy that at least covers “Third Party Liability” as specified under the Act. A Comprehensive Motor Insurance Cover in addition to the mandatory third-party cover also protects the car owner from financial losses, caused by loss or damage or theft of the vehicle.ost auto insurance companies in India have comprehensive policies to help their customers. Some of them have also tied up with top automobile manufacturers for a fast insurance process. Auto insurance companies have separate plans for two wheelers, four wheelers, commercial vehicles. Car Insurance Premium is calculated based on the car’s Model, Age and the Registration City. Due to this Pricing Model, in some cases, the premium for similar cars could be higher as well. Some of the biggest Insurance companies in India are listed below: