Motor vehicle insurance is mandatory in India for a number of reasons. It becomes all the more important considering the high number of motor vehicle accidents that take place in India, and the mounting number of accidents is a figure to be concerned about.
The government has tried to do its part by revisiting existing laws and passing a revised bill on vehicles in 2017 making insurance coverage mandatory and non-negotiable. In fact, when it comes to the enforcement of motor vehicles rules and the push for vehicle owners to carry their motor vehicle insurance policies in vehicles are stricter now, and failing to adhere to themcan lead to significant fines.For this reason, all vehicle owners are urged to carry their motor vehicle insurance documents with them at all times. However, the question that most people often wonder about is why motor insurance mandatory, which often goes unanswered.
Most people often select the cheapest motor vehicle insurance only to regret their decision later on when their motor vehicle has been stolen, or is involved in an accident, or while selling the vehicle. Like any other form of insurance, when you buy motor insurance online or offline,it ensures that your interests as the policyholder are protected in a variety of situations.
Some of the major reasons why one must invest in motor insurance online and also ensure timely motor insurance renewal, include: