Vehicle Insurance

Vehicle insurance, also known as car insurance or auto insurance, is a type of insurance that provides protection for vehicles, such as cars, trucks, and motorcycles. It covers a range of potential losses, including damage to the vehicle, theft, and accidents. Motor insurance is required by law in most countries, and it can help to protect individuals and families from the high cost of repairing or replacing a vehicle. Motor insurance policies typically include liability coverage, which covers damages to other people and their property, and collision coverage, which covers damages to the policyholder's vehicle. Premiums for motor insurance are based on a number of factors, including the type of vehicle, the driver's age and driving record, and the location where the vehicle is driven.

Vehicle Insurance

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Popular Services in Payveda

Customers can visit their nearest Payveda AEPS agent and do all these transactions using only their Aadhaar Number and Biometric Authentication.

What Services Included in Aadhar Enabled Payment System?

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Life Insurance

Life insurance is defined as a legally binding contract between an insurance provider and a policy proprietor. Its policy guarantee where the insurer promises to pay a sum of money to the beneficiary when the insured person dies in exchange for the premiums paid by the policy holder during their continuance. Life Insurance protects the future of your loved ones (mom, dad wife and children) by paying a lump sum amount referred to as death benefit if any unfortunate event occurs. Though money cannot recover for the loss, but ensures to have no financial gaps for the family to face after the demise of their supporting hand who earns money for their family.

It is best to buy a policy quickly, since the premium amount is rising in this year. Payveda will give you a life insurance in less budget amount.

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Health Insurance

Health insurance is a type of insurance that help to cover the cost of medical care. It helps to pay for medical expenses, including hospital stays, surgeries, doctor visits, and other forms of medical treatment. Health insurance can provide access to a range of medical services and can help to protect individuals and families from the high cost of medical care. In India, health insurance is provided by private insurance companies, and individuals and families can purchase health insurance plans through their employer or on the open market, such as PayVEDA agent in their locality. Some people may be eligible for government-funded health insurance programs, such as Medicaid and Medicare.

About Car Insurance

A general insurance company and a car owner enter into a contract known as "car insurance," in which the latter agrees to protect the car owner from any financial damages that might result from an unlucky incident affecting the vehicle. When your vehicle is damaged in an accident or a natural disaster, vehicle insurance helps you avoid spending money. Insurance plan made specifically for two-wheelers, commercial trucks, and other types of road vehicles. In India, there are trucks, cars, bikes, scooters, and other vehicles that are required to run on the road. It is mandatory for the person to take a motor vehicle insurance policy for all type of vehicle in India as per the Motor Vehicle ACT 1988. It is also prevent the theft of the vehicle and vehicle property damage.

Type of Car Insurance

There are three type of vehicle insurance.

1. Third party car insurance. In India, having third-party vehicle insurance is required in order to operate a vehicle. It is also known as a Liability Only Car Insurance Policy because it is the most fundamental type of car insurance. In accordance with this coverage, the insurance provider is responsible for covering third-party deaths, permanent disabilities, temporary disabilities, and bodily injuries brought on by car crashes involving the insured's vehicle.

2. Standard own-damage car insurance. You are protected against any unintentional damages to your vehicle with our stand-alone own-damage insurance. These could be the result of man-made calamities like theft, burglary, riot, or strike or natural disasters like earthquake, flood, cyclone, and landslide. You must have an active third-party insurance coverage for the car in order to get this insurance.

3. Comprehensive car insurance. The most comprehensive form of car insurance is known as a comprehensive coverage, and it holds an insurance provider responsible for both the car's own damages and any financial obligations owed to a third party.

Benefits of Vehicle Insurance

1.Protection Against Third-Party Liabilities: A car insurance policy aids in reducing third-party obligations for things like property damage, death, temporary or permanent disability, and physical injury.

2.Protection Against Own-Damages: An automobile insurance coverage enables you to protect your finances against the costs associated with your vehicle's own-damage.

3.Coverage Against Theft: A car insurance policy also offers protection in the event that your vehicle is stolen. Your insurance provider will give you your vehicle's Insured Declared Value (IDV), which is the market value of your vehicle, in the event that it is stolen.

4.Covers vehicle damage: Our car insurance policy takes care of the repair costs for any harm done to your car as a result of mishaps or natural disasters.

Why Payveda?

Real Time Settlement:

AEPS agents and Distributors get instant and real time settlement on every transaction.

Business Setup:

Ease of doing the AEPS business setup with us, we will help you every step of the way.

Service Workforce:

Trained and experienced service workforce to help your AEPS business flourish.

Transactions:

Save time by conducting transactions through Payveda Web Portal or Mobile Application.

Seamless Process:

Seamless process designed to reduce transaction time and effort using Payveda portal.

Zero Downtime:

Multiple banks integrated in the back end to ensure service is always up and running.

Aeps Activation Process - Payveda

Activation Process

Any new or existing business partner can do AEPS free portal registration with a simple documentation process. All you need to do is to submit your PAN Card and Aadhar Card and fill the Aadhar Enable Payment System / Aeps registration form. Earn a handsome income on every transaction!

Things required to start AEPS Business?

  • Smart Phone or Computer with an active internet connection
  • Biometric Device
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