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7.2%First documentIs Third-Party Car Insurance Mandatory in India? | Generali CentralOpen original ↗
Second documentWhat Happens If You Only Have Third Party Insurance During a Major Accident | Generali CentralOpen original ↗
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When it comes to car insurance, one of the most important types of coverage that vehicle owners in India need to be aware of is third-party insurance. This is because, under the Motor Vehicles Act, 1988, all vehicle owners must have a minimum level of third-party liability insurance.
Introduction
The Motor Vehicles Act of 1988 mandates that every car owner in India have a third party car insurance. It's the most basic vehicle insurance policy you can own. If you accidentally damage third-party property or cause injury in an accident, the policy will cover it.
Final Thoughts
Third-party car insurance is a mandatory requirement for all vehicle owners in India, as per the Motor Vehicles Act, 1988. This coverage ensures that victims of road accidents receive financial compensation for their losses and promotes responsible driving among vehicle owners. To obtain third-party insurance, vehicle owners can purchase policies from licensed insurance companies in India, choosing from one, three, or five-year policy terms.
What Happens If You Only Have Third Party Insurance During a Major Accident?
If you only have third-party insurance and are in a major accident, the insurance will compensate for liabilities caused to the third party- damage to the property, death or injury. For your own vehicle, no expenses will be provided by the insurance company. Third party insurance is mandatory as per the Motor Vehicles Act of 1988.