The government is making such a system, under which the police and transport department officials will extract the complete details of the seized vehicle with the help of a tool called Vahan App of the Ministry of Road and Highways.
If you are driving without insurance and are caught by the traffic police, you may have to buy insurance on the spot. For this, the Ministry of Transport is preparing for major changes. In such a situation, with the help of Fastag, third-party insurance ie third party insurance will be provided at the same place.
According to government statistics, about 40-50% of the vehicles in the country are running on the roads without insurance. Many of these vehicles are also involved in accidents when it is mandatory to have third-party insurance for the vehicle as per the rules. Explain that third-party insurance covers medical and treatment expenses for accident victims.
According to the news, the government is making such a system, under which the police and transport department officials will extract the complete information of the vehicle caught with the help of the vehicle app of the Ministry of Road and Highways with the help of a tool. If the vehicle is not insured, the general insurers connected to the Transport Department’s network will immediately provide the vehicle owner with an option to purchase an insurance policy.
What will be the process
According to the news, in this way, banks as well as insurance companies can be brought on the FASTag platform for immediate payment of premiums for these policies to drivers without vehicle insurance, in which the premium will be deducted from the amount in FASTag. According to an official of the General Insurance Council, Tatkal insurance was also discussed in the council meeting and recommendations for its implementation are being prepared and will be discussed in the March 17 meeting.
How much is third party insurance
The premium for third party insurance depends on the size and age of the vehicle, it is Rs 2,072 for passenger vehicles with 1000cc, Rs 3,221 for 1000-1500cc vehicles and Rs 7,890 for vehicles with 1,500cc engine. Insurance regulator IRDA has already allowed insurance companies to issue temporary or short-term motor insurance for seized vehicles.
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