Why Motor Insurance is Essential: A Comprehensive Guide for Indian Drivers

Motor insurance is crucial for protecting against financial losses arising from accidents, theft, and other vehicle-related risks.

Third-Party Liability: Mandatory by law, covers damage or injury to third parties.
Comprehensive Coverage: Includes own vehicle damage, theft, and third-party liabilities.
Personal Accident Cover: Provides compensation for injuries or death of the owner-driver.

Motor Vehicles Act, 1988: Mandates third-party liability insurance for all vehicles.
Penalties: Driving without insurance can result in fines and legal penalties.