Vikrant Shekhawat : Oct 01, 2021, 06:22 PM
A big news has come out regarding the insurance of vehicles in the country. In which it is being told that a major change has been made in the insurance policy of the vehicles. In such a situation, it is now being told that it has become mandatory to get third party insurance of vehicles. Let us inform that the Union Ministry of Road Transport and Highways has taken this decision. The Ministry has taken a big decision to ensure third party insurance in all the states in collaboration with Insurance Regulatory and Development Authority.It is being told about this third party policy that it has been started in some other states. A pilot project is going on in some states regarding this. It is also being told that in the first phase, only third party insurance of vehicles plying on the road is being checked. When its process is completed, after that such vehicles which are not visible on the road will also be checked.
Let us tell you that the Insurance Regulatory and Development Authority of the Central Government will inform the DTOs of all the states that which vehicle has been insured third party and which is not. If the insurance of a vehicle has expired, then a notice will also be sent to the vehicle owner for this. In this third party insurance, there is no benefit to the insured but there is no loss to the insured either.
Under third party insurance, if someone gets hit by a vehicle and loses his life or gets injured, then the insured can get compensation from the concerned insurance company to the victim. In such a situation, the cost of the hospital is also not to be paid by the vehicle owner. The insurance company pays that amount. Let us tell you that third party insurance is related to third parties. If someone has got third party insurance for the vehicle and an accident occurs, then the insurance company gives a claim to the third party. Let us tell you that in this the first party is the driver of the vehicle, while the third party is going to be hit by the vehicle. In such a situation, the Supreme Court has said that third party insurance has been made mandatory.
Let us tell you that the Insurance Regulatory and Development Authority of the Central Government will inform the DTOs of all the states that which vehicle has been insured third party and which is not. If the insurance of a vehicle has expired, then a notice will also be sent to the vehicle owner for this. In this third party insurance, there is no benefit to the insured but there is no loss to the insured either.
Under third party insurance, if someone gets hit by a vehicle and loses his life or gets injured, then the insured can get compensation from the concerned insurance company to the victim. In such a situation, the cost of the hospital is also not to be paid by the vehicle owner. The insurance company pays that amount. Let us tell you that third party insurance is related to third parties. If someone has got third party insurance for the vehicle and an accident occurs, then the insurance company gives a claim to the third party. Let us tell you that in this the first party is the driver of the vehicle, while the third party is going to be hit by the vehicle. In such a situation, the Supreme Court has said that third party insurance has been made mandatory.