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Motor Vehicle Insurance in India protects the motor vehicle owner against (a) the loss of or damage to the vehicle due to an insured risk, loss of use, theft, etc., and (b) indemnification if the vehicle owner is liable to any third party by law. Third-party insurance is a legal requirement.
Along with this, the RTO is also responsible to inspect vehicle's insurance and fitness and clear the pollution test. [4] Function of RTO: To enforce the provisions of the various acts of motor vehicles, central motor vehicle rules and the State motor vehicle rules as laid down by the government from time to time.
Vehicle insurance (also known as car insurance, motor insurance, or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a ...
The New India Assurance Co. Ltd. (NIACL) is an Indian public sector insurance company owned by the Government of India and administered by the Ministry of Finance. Headquartered in Mumbai , it is the largest nationalised general insurance company of India based on gross premium collection inclusive of foreign operations.
National Insurance Company Limited was incorporated on 5 December 1906 with its registered office in Kolkata.Consequent to passing of the General Insurance Business Nationalisation Act in 1972, 21 Foreign and 11 Indian Companies were merged with it and National became a subsidiary of General Insurance Corporation of India (GIC) which is fully owned by the Government of India.
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The purpose of motor vehicle registration is to establish a link between a vehicle and an owner or user of the vehicle. While almost all motor vehicles are uniquely identified by a vehicle identification number, only registered vehicles display a vehicle registration plate and carry a vehicle registration certificate. Motor vehicle registration ...
United India Insurance Company Limited (UIICL) is an Indian public sector insurance company owned by the Government of India and administered by the Ministry of Finance. Headquartered in Chennai, Tamil Nadu, the company has 30 regional offices and more than 1,400 operating offices nationwide, including 511 micro offices, as of 31 March 2023. It ...