There are 4 types of car insurance. Driving insurance rules will change from December 15th. The Insurance Regulatory and Development Authority of India has made major changes in the lane insurance system. Car and two-wheeler insurance will be divided into 4 parts from December 15. So that the customer can choose the insurance according to their needs. You can also know how much the premium is for which insurance.
According to the new rules, the first of the four types of insurance for vehicles is ‘Third Party Insurance’, which will be mandatory. The second is insurance for other passengers traveling in the lane or the person sitting behind the two-wheeler. This facility can also include staff traveling in the lane. This facility will be optional. However, passengers exceeding the number of registered seats in the lane will not be covered.
The third section covers ‘Personal Accident Insurance’. Insurance coverage will be mandatory for the vehicle owner. But it will be optional to take additional accident insurance for other passengers in the lane, persons sitting behind and passengers other than the owner. The fourth part will have ‘Insurance for loss of own vehicle’. It will provide financial protection in case of loss of your vehicle due to accident, theft or other reasons. This will also be optional. …
