There are two types of Car insurance policies Third party Car Insurance and Comprehensive Car Insurance.

Is third party insurance compulsory in india. It is thus like a. In India third party insurance is a mandatory cover without which one cant drive hisher vehicle on the roads. It takes care of third party liabilities in the event of an accident including bodily injury death and property damage.

But very few remember to claim this insurance when it is required or the vehicle is damaged by others. In India as per the Motor Vehicle act at least having a third-party commercial vehicle insurance is compulsory. Any vehicle used for social domestic and pleasure purpose and for the insurers business motor purpose should be insure.

The two types of insurance available are third party and comprehensive. As per the rules no vehicle can run on the road without TP insurance. As sometimes the driver of the vehicle is often a person of small means and injured person goes without adequate compensation insurance of motor vehicle covering the third party risk is made compulsory in India and the Motor Vehicles Act provides that vehicle should not be used in public place without having insurance policy covering third party risks.

Since it is mandatory if caught without it you will be fined heavily. But what exactly is it. There are three types of car insurance in India.

The idea was to build a security for the injured or their dependents. In India Third Party Insurance is more than just a precautionary safe-guard. As mentioned earlier a third-party policy is compulsory insurance in India for every car owner.

It can leave you and the others involved in the accident financially strained and distressed. According to The Motor Vehicles Act 1988 it is mandatory for all vehicles in India to have at least third-party insurance. It is mandatory and covers any financial liability the policy holder may incur from a third party damage liability covers costs resulting from damages to or loss of property.