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Peteryang

compulsory insurance for traffic accident of motor-driven vehicle

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HI everyone, Im from China, and I like India very much, and also know more about India car market, could you share us some information about auto insurance in India, how many kind auto insurance is there and is there any compulsory insurance in India? In China there is ,every car buyer should buy this insurance. thanks

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Hello Peteryang,

Yes, India has two types of insurances,

1. Third Party - This is the basic minimum requirement. Even if you do not plan to the get more expensive comprehensive insurance where damage to your car is also covered, you have to go for third party insurance where any other car/vehicle you damage on the road gets a compensation from the insurance company.

2. Comprehensive - This is a little more expensive and in this case your vehicle is also covered along with other vehicles that you could damage if you were in an accident. Most cars for for this since they want to cover their vehicles too.

Warm Regards,

Arvind

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