Which insurance is compulsory by law in India?
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.
What is the law relating to third party insurance in India?
Third-party insurance, which is also sometimes referred to as 'act-only' insurance is a statutory requirement for all vehicle owners as per the Motor Vehicle Act. It is a type of insurance cover where the insurer offers protection against damage to the third-party vehicle, personal property and physical injury.
What if there is no third party insurance?
Legal Liability\n\n In case of an accident, if you do not have a valid motor insurance for third party liability policy then two cases will be filled against you- criminal case (for negligent driving) and the second one to get claim you would have to give compensation to the family of the deceased.
Which type of insurance is mandatory?
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.