Business Studies

Whenever you buy a vehicle, motor insurance is equally important and third party liability insurance is mandatory.


ANSWER

True


SOLUTION
A. True
Motor Vehicle Insurance falls under the General Insurance. In motor insurance, the owner’s liability to compensate people who were killed or injured through negligence of the motorists or drivers is passed on to the insurance company. This is also known as third party insurance. The premium is paid yearly in case of Motor Vehicle Insurance.
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