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Which insurance is compulsory

Third party insurance is the bare minimum you need to drive legally on public roads. It has been compulsory since it was introduced with the Road Traffic Act 1930.

What insurances are compulsory in UK?

You must have motor insurance to drive your vehicle on UK roads. Third party insurance is the legal minimum. This means you're covered if you have an accident causing damage or injury to any other person, vehicle, animal or property. It does not cover any other costs like repair to your own vehicle.

Which insurance is compulsory in Nigeria?

S. 3 (b) of the NHIA Act, under the functions of the Authority, provides for the NHIA to ensure mandatory health insurance for every Nigerian and the country's legal residents. Health insurance is an insurance contract taken to cover the cost of medical care.

What does compulsory mean in insurance?

Compulsory Insurance — any form of insurance that is required by law. In most states, for example, automobile liability insurance is compulsory for all automobile owners.

What insurance is compulsory in South Africa?

Having car insurance in South Africa is not required by law. However, if a vehicle is purchased with a loan from a financial institution or a bank, car insurance then becomes mandatory by the relevant financial institution or bank.