Tapan Singhel, Chief Executive Officer of Bajaj Allianz says vehicle insurance is a mandatory document for any mode of transport. Whether you buy a two-wheeler or four-wheeler you must ensure that your vehicle is insured. Kavya bought a second- hand car which she wanted to get insured.
She read an article by Tapan Sindhel that said – Third Party Insurance is mandatory for all kinds of vehicles in India. She was more keen on buying a comprehensive plan that can not only cover her car but third party damage as well. In order to get her second-hand vehicle insured Kavya had two choices. First was to transfer the existing insurance from the original vehicle owner of the car. Another alternative could be to submit form 29 and form 30 to the motor insurance company.
Singhel also recommended her to buy a comprehensive plan as that can offer her dual advantage. One benefit was it covered a third-party damage and the other was it managed own damage as well. While the third party is a compulsion in India, for insuring your own vehicle needs the inspection from a surveyor. It can be easily done within the comfort of your home through a smartphone. You can easily upload photographs of your vehicle through a mobile application. Insurance for second-hand vehicles can be easily received within a few minutes if required steps are followed.