Insurance: What benefits do you get from third-party insurance for bikes and cars?

It is crucial for anyone driving a car, bike, or other vehicle to be aware of third-party insurance. In India, third-party insurance is not merely an option for vehicles on the road; it is a mandatory legal requirement. The Supreme Court has recently commented on this matter and directed the IRDAI to extend the tenure of third-party insurance policies, mandating a duration of six years for bikes and four years for cars.

If you are purchasing a new vehicle—whether a car or a bike—obtaining third-party insurance at the time of purchase is mandatory. Furthermore, traffic authorities check for third-party insurance alongside the vehicle's own insurance coverage. Failure to possess third-party insurance can result in a traffic challan (fine) being issued by the police. The Supreme Court has also ordered that provisions be made to deny fuel (petrol or diesel) to vehicles that lack insurance coverage.

**Benefits of Third-Party Insurance**