MANAGEMENT

Detailed explanation-1: -In India, and all over the world, getting your car insured is a compulsory by law, not an option. The Motor Vehicle Act of 1988 makes it mandatory for all vehicle to be covered under an appropriate insurance policy before they can ply on the road.

Detailed explanation-2: -In India, as per the Motor Vehicles Act, it is mandatory that all vehicles that operate in any public space must have a motor vehicle insurance cover. Policyholders must have at least ‘third party liability’ motor insurance cover even when opting for the basic insurance plans.

Detailed explanation-3: -The car insurance mandate in India According to The Motor Vehicles Act, 1988, it is mandatory for all vehicles in India to have at least third-party insurance. Standalone own-damage cover:-This covers any damage to your car. The damage or loss could be due to an accident, natural calamity, or theft.

Detailed explanation-4: -These accidental mishaps can sometimes be devastating for you, your family and other third parties. It can leave you and the others, involved in the accident, financially strained and distressed. Hence, the government of India made it mandatory for vehicle owners to buy at least a Third-Party Car Insurance.

Detailed explanation-5: -Compulsory insurance is any type of insurance an individual or business is legally required to buy. Compulsory insurance is mandatory for individuals and businesses that want to engage in certain financially risky activities, such as operating an automobile or operating a business with employees.