Third party insurance
6 months ago
So.. I went and hit a car which was second hand and the registration certificate of the same is not been transferred to the car owner. My third party insurance claim is being rejected from the other end. What to do??
A.Dear Client,
It is mandatory to have a third-party insurance policy as per the Motor Vehicles Act, of 1988 which is a basic requirement to legally ply a vehicle on Indian roads. A major disadvantage to having third-party motor insurance is that you are not covered for any damage to your vehicle in an accident. This means that you will have to pay for any repairs to your vehicle out of your own pocket. A 3rd party insurance policy provides compensation for bodily injuries or demise of a third party (as per the court of law) and property damages for up to Rs. 7.5 lakh.
It is mandatory to have a third-party insurance policy as per the Motor Vehicles Act, of 1988 which is a basic requirement to legally ply a vehicle on Indian roads. A major disadvantage to having third-party motor insurance is that you are not covered for any damage to your vehicle in an accident. This means that you will have to pay for any repairs to your vehicle out of your own pocket. A 3rd party insurance policy provides compensation for bodily injuries or demise of a third party (as per the court of law) and property damages for up to Rs. 7.5 lakh.
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A.Dear Client,
Review your own insurance policy to ensure you are correctly covered for third-party claims. Make sure you understand the terms and conditions of your policy. Attempt to negotiate with the other party to resolve the issue amicably. Mediation can sometimes help avoid lengthy legal proceedings.
Review your own insurance policy to ensure you are correctly covered for third-party claims. Make sure you understand the terms and conditions of your policy. Attempt to negotiate with the other party to resolve the issue amicably. Mediation can sometimes help avoid lengthy legal proceedings.
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