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Car insurance is mandatory in India as per the Motor Vehicles Act, 1988. This law requires all vehicles to be insured before they can be driven on public roads. The primary reason for this is to provide financial protection to third parties who may be affected by accidents involving vehicles. Car insurance in India typically covers liability for damages caused to third parties, including injuries or property damage. By requiring car owners to have insurance, the government aims to ensure that victims of road accidents are compensated for their losses, and the financial burden is not borne by the affected individuals or the public at large. Additionally, insurance can also provide financial protection to the car owner in case of theft or damage to the vehicle.
Car insurance was made mandatory in India in the year 1988. The Indian Motor Vehicles Act of 1988 required all drivers to have a minimum level of third-party liability insurance. The law was amended in the year 2002 to make it compulsory for every vehicle owner to have an insurance policy for his or her car.
Car insurance is mandatory in India, but there are certain exceptions. The most common exception is that if you own a car less than three years old and have not made any claims on your car’s third party liability cover, then you are not required to buy the insurance. Some other exemptions from buying car insurance include:
It is mandatory that all cars that operate in any public space must have car insurance cover. When you drive your car through some areas which will occur accidents theft happen person can ensure your claims-free instantly online.
The insurance amount for a car in Tamil Nadu varies based on factors such as the car's make and model, location, and type of coverage. The annual premium can range from Rs. 2,200* to 8000*, depending on individual circumstances and coverage choices.
The insurance amount for a car in Karnataka varies based on factors such as the car's make and model, location, and type of coverage. The annual premium can range from Rs 3,000* to 9000*, depending on individual circumstances and coverage choices.
The insurance amount for a car in Telangana, like in other Indian states, varies based on factors such as the car's make and model, location, and type of coverage. The annual premium can range from Rs. 2,400* to 5,500*, depending on individual circumstances and coverage choices.
The insurance amount for a car in Maharashtra, like in other Indian states, varies based on factors such as the car's make and model, location, and type of coverage. The annual premium can range from Rs. 2,500* to 8000*, depending on individual circumstances and coverage choices.
The insurance amount for a car in Kerala, like in other Indian states, varies based on factors such as the car's make and model, location, and type of coverage. The annual premium can range from Rs. 2,000* to 5000*, depending on individual circumstances and coverage choices.
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