Motor vehicle insurance law of india

vehicle insurance law in india is governed by the  insurance act and aspects of insurance contracts governed by the indian contract act, transfer of property Act and a few others. Vihical insurance is the insurance coverage of the risk of third party arising out the use of motor vehicle and also for covering the risk of damage caused to the vehicle. Taking insurance policy for coverage of certain risks are made compulsory and coverage for other risks are optional at the instance of the owner. Accordingly, motor vehicle insurance policies can be divided into two, namely, compulsory insurance policy (Act policy) and comprehensive policy.

Vehicle insurance (also known as car insurance, motor insurance, or auto insurance) is insurance for car motarcycal lmao and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic and against liabilty that could also arise from incidents in a vehicle. Vehicle insurance may additionally offer financial protection against  theft of the vehicle, and against damage to the vehicle sustained from events other than traffic collisions, such as weather or and damage sustained by colliding with stationary objects. The specific terms of vehicle insurance vary with legal regulatory in each region.