SC panel recommends mandatory 3-year insurance policy for cars; 5-year plan for motorbikes

[rahul1117kumar]

The Supreme Court Committee on Road Safety has asked insurance regulator to offer a mandatory three-year policy for cars, apart from a five-year policy for motorbikes at the time of sale and registration, reported The Times of India. The panel has recommended the new insurance shuffles for cars and motorbikes in view of unsatisfactory third-party insurance offered to vehicles, putting users at risk.

Quoting sources from the Insurance Information Bureau (IIB), the report highlighted that only 6.5-7 crore vehicles had insurance cover, out of a total number of 18 crore registered vehicles. A few government officials also stated that at least 50 per cent of vehicles plying on roads do not have proper insurance and it has been more frequently observed in the case of motorbikes.

SC panel recommends mandatory 3-year insurance policy for cars; 5-year plan for motorbikes

 

[abhi1276]

Good move if implement actully there should be increase of fine to 3000 which almost par of comprehansive policy for two wheeler and 5000 to 20000 fine for 4wheeler so that everyone buy insurance specially third party insurance but also govt force insurance co to give full info regarding policy to the policy holder no hidden agenda in it bcoz insurance co exploit at a time of claim and which they reject using hidden term and condition.