1/19/2014

Prof. Vijay Agawane, Christ University, Bangalore

 As per Motor Vehicles Act 1938, it is compulsory for the

motorists to insure against the risk of liability to third parties. In other words, the insurance of motor vehicles against risk is not made compulsory, but the insurance of third party liability in public places is made compulsory.

1/19/2014

Prof. Vijay Agawane, Christ University, Bangalore

Classification of motor vehicles for insurance

Private cars
Motor cycles Commercial vehicles

1/19/2014

Prof. Vijay Agawane, Christ University, Bangalore

Kinds of policies
Third party policy this undertakes the liabilities of

the third parties who suffered loss in connection with the damage of property and personal injury or death. Comprehensive policy or full cover policy: this policy covers own damage, losses and third party liability

1/19/2014

Prof. Vijay Agawane, Christ University, Bangalore

 Garage insurance policy: under this policy, such motor

vehicles risks are covered which are related to the motor vehicles standing in the motor garages or service stations.

1/19/2014

Prof. Vijay Agawane, Christ University, Bangalore