Owning a car or your desired vehicle is everyone’s priority. And India with its, along with its increasing population, also has an increasing number of vehicles. As per a report*, India was one of the leading countries in terms of vehicle production, where nearly 22.9 million units* were produced, which shows the consumption capacity for the country in this category.
As per the Motor Vehicles Act, 1988, it is mandatory that all vehicles that operate in any public area/space need a Valid Motor Insurance cover. The law requires any vehicle that is on the road to be covered with a minimum of a Third Party Insurance. But is taking only third-party insurance gives you the required cover that you need from a Motor Insurance Policy?
Not really! Third party insurance only covers you for Third-party liabilities and lets you drive as a law-abiding citizen. A Third-party insurance cover doesn’t give you the benefits that you will need to secure yourself and the vehicle on and off the road. An Ideal motor insurance cover is one that will benefit you from the following:
This story is from the March 2023 edition of Investors India.
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This story is from the March 2023 edition of Investors India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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