MANAGEMENT

Detailed explanation-1: -The liability coverage will include the third-party injury, death or damage to the third party property. Liability coverage is mandatory as per the motor vehicle Act 1988.

Detailed explanation-2: -What is the Motor Vehicles Act? 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 general insurance cover that is mandatory is third-party liability car insurance. This is the minimum coverage that a vehicle should have before they can ply on Indian roads.

Detailed explanation-4: -There are three different types of insurance-Private Car Insurance, Two-wheeler Insurance, and Commercial Vehicle Insurance.