Motor Vehicle Act New Rule: The central government can make changes in the new Motor Vehicle Act. In which it will be very important to insure the vehicle. If the car or bike is not insured, it may be difficult to get petrol-diesel and fastag. The insurance industry has given a proposal to the government in this regard. On which the government is discussing
Motor Vehicle Act New Rule: In India, there are many types of talks about pollution certificate and motor vehicle insurance in vehicles. Similarly, these days the discussion about vehicle insurance is in full swing. It is being said that the government is preparing to make a big change in the Motor Vehicle Act. If this happens, then there may be problems in filling petrol and diesel in vehicles. At the same time, it will also become difficult to get fastag. Actually, the government is making a change in the Motor Vehicle Act. In this, it is very important to have insurance for all vehicles. According to a report, there are many such vehicles which are still running on the road without insurance.
Let us tell you that the insurance industry has presented a proposal to the central government. In which it is said that vehicles without insurance should not be allowed to fill oil at oil pumps. The government is deliberating on this proposal. Under the Motor Vehicles Act 1988, third-party insurance is mandatory for all vehicles. This insurance is to compensate for the damage caused to a third party in an accident.
Driving a vehicle without third party insurance is a crime
According to media reports, the ministry is deliberating on the proposal of the insurance industry. The rules may change soon. Vehicle insurance will also be added to this. After this, state governments and union territories will be instructed to strictly follow these rules. At the same time, recently the Parliamentary Standing Committee also gave suggestions to the government to increase third-party insurance coverage. The committee has recommended promoting data integration and e-challan. Along with this, the need for data reporting to the states has also been stated to monitor vehicle registration and insurance coverage. According to IRDAI, out of about 35-40 crore vehicles running on Indian roads in the year 2024, only 50 percent have third-party insurance. Under the Motor Vehicle Act, driving a vehicle without third party insurance comes under the category of crime.
Losses being incurred for the last few years
The insurance industry says that if the government presents this proposal, then insurance will be done immediately. According to a statistic, the insurance size in the motor vehicle segment is currently more than Rs 80,000 crore. In the last few years, the insurance industry has seen a decline of more than 80 percent.
