Chirag Gupta
Patna: Motorists in Bihar are being urged to ensure they have third-party insurance for their vehicles, as failure to do so could result in severe financial penalties. Transport Secretary Sanjay Kumar Agarwal has warned that vehicle owners without this mandatory insurance may face a compensation payment of at least Rs 5 lakh if their vehicle is involved in a fatal road accident.
Highlighting the importance of insurance coverage, Agarwal explained that the Bihar Motor Vehicle Accident Claims Tribunal has been established to secure justice for road accident victims. Over the past six months, the tribunal has ordered compensation payments from vehicle owners in several cases where accidents involved uninsured vehicles. In 15 such cases, courts have mandated Rs 5 lakh in compensation, which has already been paid by the responsible vehicle owners.
The Transport Secretary emphasized that third-party insurance is not only a legal requirement but also provides crucial financial protection. This insurance covers the cost of treatment for those injured in accidents and ensures that compensation is available in the tragic event of a fatality.
Agarwal appealed to the public to act responsibly by insuring their vehicles, underscoring the importance of safeguarding the lives and wellbeing of others on the road.
Third-party insurance offers several important benefits, including financial protection by covering the insured in the event of an accident or damage to someone else’s property. It also provides a legal safeguard, protecting the insured from potential lawsuits filed by third parties. Additionally, third-party insurance ensures peace of mind by offering financial security in case of an accident, and it protects the insured’s property from being seized due to legal claims. Finally, it assists the insured in obtaining compensation for any losses or damages incurred.
