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What kind of coverage is required under compulsory insurance laws?
Liability insurance
What are four vehicle insurance laws with which all drivers should be familiar?
Compulsory insurance, financial responsibility, assigned-risk plans, and no-fault insurance
Why it is compulsory to have vehicle insurance in India?
Compulsory insurance laws in any country, state or province are intended for the essentially same reason: to ensure that a party who is damaged or injured by the negligence of another has a source of financial recovery.
What is the difference between compulsory and non-compulsory insurance?
Non-compulsory insurance is purchased at the option of the buyer. For example, a consumer can decide to purchase a life insurance policy but is not required to by law. Another example of non-compulsory insurance is trip insurance which some consumers buy to protect against travel risks such as illness, lost luggage, or cancelled flights. Consumers who decide not to insure certain risks are effectively self insuring themselves by taking on the full risk of any loss. Compulsory insurance is required by law or as a mandatory requirement of obtaining certain goods or services. Examples of compulsory insurance are auto liability insurance which is required by state laws and home owners insurance which is compulsory on bank financed homes.
What is the Distinction between compulsory and non compulsory insurance?
differentiate between complusory and non-compulsory insurance and examples of each
Are state workers' compensation laws compulsory?
I don't really understand this question. Are laws compulsory? Laws are laws and are certain not voluntary as to whether you obey them or not.
Is third party car insurance compulsory?
If it's required by your state laws, yes. If it's required by your insurance carrier in order to qualify for basic coverage, if you don't like it you have the option of finding another insurance company.
What does compulsory insurance mean?
Compulsory insurance usually refers to the least amount of cover for a product you can buy from insurance companies whilst still being legal in the case of car insurance.
Can you drive your parents car with a permit if you are not on their insurance?
if you have licence, and you have permission to driver the car, then you can drive the car,but laws change from state to state,so in some countries, insurance is compulsory to drive the car
What is non-compulsory insurance?
Non-compulsory insurance is a type of insurance that is not lawfully required, but can still be used for protection. It can add protective measures for both people and property.
What is non compulsory insurance?
Non-compulsory insurance is a type of insurance that is not lawfully required, but can still be used for protection. It can add protective measures for both people and property.
Are all insurance compulsory?
all insurance contracts are not compulsory in any where . but only few of them are in compulsory according to the nature of contract where the liability arises for third party there is provision of compulsory insurance contract . this type of insurance is initiated by prince otto von wismark in Germany . vivek tyagi from department of legal studies ccsu campus meerut
