PDFprof.comSearch Engine CopyRight

Which insurance is mandatory

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.

Which of the insurance is mandatory 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.

Which insurance coverage is compulsory?

Most compulsory insurance is third-party liability insurance. This covers the damage and losses which those engaged in the specific insurable activity may cause. Some occupations entail activities for which this type of insurance must be taken out, such as the healthcare professions.

What type of insurance is mandatory in most states?

Liability insurance: Almost all states require a minimum amount of liability insurance. This coverage helps pay for any injuries or damages you cause in a car accident, including those of the other driver and their passengers.

What insurances are mandatory 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.