Get a third-party cover at the very least if your vehicle is uninsured

A report by the General Insurance Council of India says that approximately 60 per cent of automobiles in India are uninsured

The Insurance Regulatory and Development Authority of India (IRDAI) has revised the premium rates for third-party motor insurance effective from April 1, 2018. IRDAI, has been revising the third-party premium rates every year since 2011, prior to the start of the new financial year. The yearly revised premium for third-party insurance is brought out by IRDAI based on data provided by insurers on third-party risks, claims developments and loss experiences during the year. Over the past two-three years the third-party premium rates were hiked by around 20–30 per cent. This year, however, IRDAI has proposed to lower third-party premium rates