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Feb 18, 2016. Third party insurance is mandatory under motor vehicle act of India and it's illegal to drive a car that does not have this basic insurance.
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Car insurance is basically a contract between a customer and an insurance company. The insurance provider agrees to pay the customer for the losses defined in the policy, in exchange for the premium that the customer pays.
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He informed how a Prime Minister is an owner of 80 cars, with 33 being bullet.
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The automotive industry in India is one of the largest in the world with an annual production of 23.96 million vehicles in FY (fiscal year) 2015–16, following a growth of 2.57 per cent over the last year. The automobile industry accounts for 7.1 per cent of the country’s gross domestic product (GDP). The Two Wheelers segment, with 81 per cent.
Third party car insurance is the minimum legal level of cover needed to drive a car. It covers you if you damage someone else's property or injure them while.
If you are buying car insurance in India for just third party coverage, then an inspection is not required. An inspection may also not be required in case you are.
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