Ask a Question

Which of the following types of insurances is mandatory?

in Finance by (257k points)

Question: Which of the following types of insurances is mandatory?

Options:

  1.  Motor Own Damage
  2.  Motor Third Party Legal Liability
  3.  Personal Accident Insurance
  4.  Product Liability
  5.  Professional Liability

Please log in or register to answer this question.

1 Answer

0 votes
by (735k points)
selected by
 
Best answer

2. Motor Third Party Legal Liability

'Motor Third Party Legal Liability' is a types of insurances which is mandatory.

More:

Under the provisions of The Motor Vehicles Act, 1988, any motor vehicle operating on a public road must be protected by a third-party insurance. It only covers your legal liability for damages.

Under the law, this liability is unlimited in the event of a personal death, therefore, you are required to purchase a Motor Third Party Liability Policy (TP Policy).

Related questions

...