If the owner of the vehicle paid premium for insurance for third party on 30.01.2011 at 3.30. PM. Insurance company issued a policy mentioning the coverage starts from 00.00 hrs (midnight 12 A.M) of 31.01.2011 12 A.M.
The vehicle met with an accident on 23.01.2008 at about 08.00 P.M. Please tell me whether the Insurance company is liable to pay compensation to the third parties.
Need more info -
1- Whether it's an renewal or a fresh policy?
2- If it's a fresh policy why it was issued for a future date?
Vehicle owner has to give compensation to third party even if he has no insurance or no third party insurance cover.
I feel it's a typo error from company side and the claim is payable. In both the cases the insurance company cannot issue policy from the future date untill it's a new vehicle and in this case also the policy will start from the time vehicle is moved out of the showroom, not from the mid night. Need more info about the exact facts.