With the purchase of a car from September 1, 2018, a third party insurance policy of 2 years will be required. It would be necessary to buy a 5-year Third Party Motor Insurance with a bike. The Supreme Court has ordered this rule to be implemented from September 1, 2018. The Court has asked the Insurance Regulatory and Development Authority to issue guidelines in this regard. So far only for two wheelers, the insurance cover for more than one year was available in the market.
This rule made compelling to mention the recommendations of the court committee on Supreme Court Road Safety. According to the Motor Vehicle Act, every vehicle running on the road must have insurance. Each policy has 2 parts, one third party cover and one on the dam. Third party insurance is required for every vehicle in the country. This vehicle compensates for any third party loss. It does not cover the damage caused to an automobile.
Apart from this, the Central Government is going to make changes in the Motor Vehicle Rules as soon as possible. Digital India is also planning to digitize the Motor Vehicle Act. Due to this you will not have to take driving license, carriage registration certificate and insurance.
