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21. What is Motor Insurance?

mahindra-finance-author

by Mahindra Finance

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January 6, 2025

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1 mins read

Motor Insurance is a vehicle insurance policy for vehicles like Cars, Bikes, Scooters, Trucks, Taxis, Buses, etc. As per Motor Vehicles Act, 1988, Motor insurance is mandatory. This policy provides financial protection against physical damage or theft or third-party liabilities or other kinds of damages that could arise from an accident or incident.

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