MANAGEMENT

Detailed explanation-1: -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-2: -Liability Only Policy covers any legal liability you may face that occurs out of damage or loss to a third party only-including death, injury, and/or property damage in the event of an accident that involves your insured vehicle. This is following the stipulations laid out by the Motor Vehicles Act, 1988 .

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: -Limit of liability refers to the max amount of money your insurer is on the hook for if something bad happens to you, your stuff, or your property.

Detailed explanation-5: -A legal liability cover for a paid driver implies that if you have hired a driver to drive your vehicle and he meets with an accident while driving it, then the insurance company will provide compensation for his injury/loss of life.