Learn important things here about Motor Insurance, always keep this document with you in the vehicle

Motor Insurance: When you buy a vehicle, you also have to take motor insurance. Third party insurance is necessary for all vehicles. This is an essential document. In this, it is your responsibility to pay the money for the injury and loss caused to others. IRDAI decides the third party premium insurance regulator. Let us have a look at the important things mentioned by the insurance regulator here.

Always keep this document in the vehicle

If you are the owner of the vehicle, then the photocopy of the insurance certificate, registration certificate, pollution control certificate and the person driving the vehicle must have a copy of the driving license.

Can transfer insurance to the car buyer : Vehicles can be transferred to the buyer

According to the information given on the IRDAI website, motor insurance can be transferred to the buyer of the vehicle. For this, the seller of the vehicle will have to inform the insurance company in writing. A new proposal form will also have to be filled. A very nominal charge is also taken for this.

Documents required in motor insurance claim

Whenever you need a motor insurance claim, you must have all the necessary documents with you. It will require a well filled claim form, vehicle registration certificate, exact damage estimate paper, original repair challan and payment receipt.

If Cashless facility has been taken then Cashless facility has been taken

If cashless facility is availed then only repair challan will have to be submitted and if required FIR will be lodged. To claim theft, the keys have to be submitted. Non-routine certificate / non-traceable will also be required to be given in theft claim.

Continuation of insurance in the name of the previous owner

According to IRDAI, if you have purchased a vehicle from the previous owner and the vehicle has also been transferred in your name in the RTO office records but the insurance is not in your name, then you cannot continue the insurance of the previous owner. As per the rules, the registration and insurance of the vehicle should always be in the same name and address. Failure to do so will not result in the claim. A new proposal form is also to be filled.

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