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The
motor vehicle insurance certificate is a legal requirement as per Chapter XI of
Motor Vehicle Act 1988 (sec
146 & 147). It gives financial protection from accidental risk.
It is very much dangerous and illegal to drive a motor vehicle without
insurance.
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Driving or allowing a vehicle to be driver on road without proper insurance cover is serious offence under the Motor vehicles Act 1998, so also is an act of irresponsibility, which everyone should avoid.
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Under the Provision of Section 140, any road accident victim, can avail of compensation under the principle of no fault. Further, under section 163 of Motor Vehicle Act 1998, the compensation to the road accident victim is given in Hit and Run cases.
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| Type
of motor vehicle insurance |
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Third party policy : This covers
the risk or damages caused to the third person. Personal injuries
and personal vehicle damages will not be covered by this policy. For
two wheeler vehicles we can take this policy for life time.
For other vehicles this policy has to be renewed annually.
This is the cheapest available motor vehicle insurance policy. This
policy can be renewed two months in advance of its expiry.
- Comprehensive policy :
This is the costly policy. It covers both personal
and third party risk. We have to renew this policy annually, and it can be renewed
two months in advance anywhere in India.
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| Duplicate
insurance certificate : |
| If
the motor vehicle insurance certificate is lost or defaced, duplicate
copy may be obtained by making an application to the concerned Insurance
company branch by paying fees. |
| Transfer
of insurance :
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| Third
party insurance policy changes automatically when the registered owner
changes. In case of comprehensive policy an application is to be made
for change of ownership in the policy.
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| Accident
Claims : |
| To obtain
motor vehicle claims of an accident, one has to make detailed claim
to the concerned insurance company. One who makes a claim application
has to give following documents: |
| 1 |
Valid
driving licence. |
| 2 |
Valid
insurance certificate. |
| 3 |
Valid
registration certificate. |
| 4 |
Valid
tax certificate. |
| 5 |
First
information report (FIR). |
| 6 |
Valid
permit for a transport vehicle. |
| 7 |
Valid
fitness certificate for transport vehicles. |
| 8 |
Claim
estimation report by an authorised surveyor of the Company.
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