All Life Insurance Policies by Life Insurance Corporation of India LIC. Owing to a rise in lifestyle diseases and double digit medical inflation in India every year, health insurance has become a necessity for every individual. Vehicle insurance, also known as car insurance, motor insurance or auto insurance is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle. Vehicle insurance may additionally offer financial protection against theft of the vehicle, and against damage to the vehicle sustained from events other than traffic collisions.