SHORT ANSWER:
Car insurance is mandatory in India as per the Motor Vehicles Act, 1988.
DETAILS:
- Every vehicle owner must have at least a third-party insurance policy.
- The insurance must be renewed annually or as per the policy terms.
PUNISHMENT / IMPLICATIONS (if applicable):
- Driving without insurance can result in fines and penalties as per Section 196 of the Motor Vehicles Act.
SOURCE:
- Motor Vehicles Act, 1988
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