What is Third Party Insurance: If you want to buy petrol-diesel for your car, FASTag or renew your DL, then you must have a valid third-party insurance. Yes, such a rule is going to be implemented soon.
This simply means that if you do not have third-party insurance, your DL will not be renewed. Not only this, you will not be allowed to get FASTag issued or buy petrol-CNG. The Finance Ministry has asked the Road Transport Ministry to take strict steps to make third party insurance accessible to as many people as possible.
Renewal of DL and pollution certificate also included
The Finance Ministry has asked the Road Transport Ministry to discuss various measures related to motor vehicle insurance. Under this, the focus will be that no vehicle should run on the road without third-party insurance under the Motor Vehicles Act. This includes sending text messages to vehicle owners without insurance, making it necessary to have third-party insurance to buy petrol-diesel and issue FASTag. This also includes renewal of DL and pollution certificate.
Rules can be changed
Under the Motor Vehicles Act, 1988, all motor vehicles must have third party insurance. Failure to do so can result in a jail term of three months. This step is being taken at a time when one out of every two vehicles plying on Indian roads does not have third party insurance. This insurance is designed to compensate for the loss caused to strangers in a road accident. Such a proposal is being worked on and soon the Road Transport Ministry may change the rules governing the Motor Vehicles Act.
You should have a valid third-party insurance for your vehicle.
Various vehicle-related compliances can be added with the third party insurance cover and necessary notifications can be issued. Apart from this, the Ministry of Road Transport will also issue necessary instructions to all state governments and union territories for strict enforcement of the provisions of the Motor Vehicles Act, which makes third party insurance cover mandatory. The government is planning that all important works related to any car or bike like buying petrol, taking fastag, renewing license can be done only when the third-party insurance of your vehicle is valid. For this, the Ministry of Road Transport can soon change the rules.
Apart from this, all states will be directed to take strict action against vehicles without third-party insurance. According to IRDAI data, out of the approximately 35 to 40 crore vehicles plying on the roads in the country, only about 50% of them have third party insurance. Recently, the Standing Committee on Finance of Parliament has suggested to consider ways to increase third party insurance coverage.
In its seventh report, presented in Parliament last month, the committee noted that as of March 31, 2020, up to 56% of vehicles were uninsured. It has asked the government to examine the implementation of electronic challans in states by taking advantage of data collection. The report said that states should report data on vehicle registration and insurance coverage.
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