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Two-wheeler insurance is a type of insurance that is mandatory in India. Falling under the General insurance product category, it helps protect people against accidents that take place on the road. Active two wheeler insurance shields the vehicle owner from any unforeseen occurrences like the accident or any serious damage to the motor vehicle.
No insurer shall accept any risk in any insurance business in India until the premium due has been received or advanced in the manner prescribed under section 64VB of the Insurance Act, 1938. If the insurance policy lapses without payment of the insurance premium within the due date, vehicle inspection is mandatory.
National Insurance Company Limited was incorporated on 5 December 1906 with its registered office in Kolkata.Consequent to passing of the General Insurance Business Nationalisation Act in 1972, 21 Foreign and 11 Indian Companies were merged with it and National became a subsidiary of General Insurance Corporation of India (GIC) which is fully owned by the Government of India.
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The New India Assurance Co. Ltd. (NIACL) is an Indian public sector insurance company owned by the Government of India and administered by the Ministry of Finance. Headquartered in Mumbai , [ 5 ] it is the largest nationalised general insurance company of India based on gross premium collection inclusive of foreign operations. [ 6 ]
The Regional Transport Office or District Transport Office or Regional Transport Authority (RTO/DTO/RTA) is an office administered by the State Governments constituted under Section 213 (1) of the Motor Vehicles Act, 1988 of India and is responsible for implementing the various provisions of this Act. It operates under the Transport Department ...
Registration must be renewed annually, with the payment of a fee. A compulsory third party insurance policy is required to renew the vehicle, as well as inspections for older or commercial vehicles. [2] Increasingly, many registration functions can be performed online.
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