What are the types of Policy? What its role?

What are the types of Policy? How it describes its role?

There are 6 types of policy available at Policytrad.com You can easily buy it and live your life happily with it. Also, these — various types of policy — help you and your children’s during the end of life span.

Before getting down into the types of policy, we have to understand the meaning of Policy.

What is Policy?

According to Merriam Dictionary, policy means “ management or procedure based primarily on material interest. ”

Policy has various ways to give us benefits purposefully. And also, policy made up through various purposes.

In the facets of government, policy is what government going to do and what it can achieve for the society as a whole.

What are the Types of Policy?

In the normal scenario, there are lots of types from company policy to economic policy. But we will face various types of policy in Policytrad’s scenario.

In Policytrad’s website, you will find 6 types of policy. These 6 types are:

1. Bike Insurance

2. Car Insurance

3. Commercial Insurance

4. Taxi/Maxi Insurance

5. School Bus Insurance

6. Medical Insurance

We will dive into types of policy right away.

1. Bike Insurance Policy

As Policy trad describes, bike insurance is an online insurance policy that is needed to provide your two-wheeler with security towards any harm that may result in monetary loss.

Besides that, any third-party liability caused by your two-wheeler is protected under bike insurance. Moreover, under the Motor Vehicle Act, it is compulsory to purchase a third-party Insurance policy on motorcycles under which one cannot use their vehicle without the policy in hand.

2. Car Insurance Policy

As mark down into the Policy trad, car insurance plan/policy is a form of online insurance policy deemed necessary to provide your 4-wheeler vehicle with defense against any damage that could lead to financial loss.

There under Motor Vehicle Act 1988, purchasing a liability policy is Mandatory without which one cannot use the car on road. To protect your car against unpredictable incidents such as Accidents, you must cover it under a car insurance policy, you can purchase car insurance online and save time and unnecessary trouble caused due to the documentation work required.

3. Commercial Insurance

As policytrad says, commercial vehicle insurance policy renders security to commercial vehicle from any damage or loss caused due to any unfortunate events. Commercial vehicles are a major mode for passengers to travel to different cities for work and leisure.

They are also used for transporting goods from one state to the other. This include vehicles like cabs, taxi/maxi cab (capacity of passengers more than 6),tempo traveler vans, rickshaws, 3 wheeler, etc. Henceforth, it is very crucial to purchase an online insurance policy in order to protect your commercial vehicle from accidents.

4. Taxi/Maxi Insurance Policy

In the section of Taxi/Maxi Insurance Policy of Policytrad, you will find this definition. Taxi insurance is an online insurance policy needed to provide your taxi/maxi with security towards any harm that may result in a monetary loss.

Besides that, any third party liability resulting from using your taxi/maxi is protected under taxi/maxi insurance policy. Under the Motor Vehicle Act, it is compulsory to purchase a third party Insurance policy on taxi/maxi under which one can not use their vehicle without the policy in hand.

5. School Bus Insurance

School bus insurance is an online insurance policy needed to provide your school bus with security towards any harm that may result in a monetary loss.

Besides that, any third party liability resulting from using your school bus is protected under bike insurance. Under the Motor Vehicle Act, it is compulsory to buy a third party insurance policy on school bus under which one can not use their vehicle without the policy in hand.

6. Medical Insurance Policy

Health insurance is an insurance product which covers medical and surgical expenses of an insured individual. It reimburses the expenses incurred due to illness or injury or pays the care provider of the insured individual directly.

These are the types of Policy, available at Policytrad.com If you have questions relate to policy, bike insurance, medical insurance, or any other, please fill out this contact form or contact us at this Ph.Number — +91 99099 92418

Thanks for your valuable time.