What is a Certificate of Insurance under the Motor Vehicle Act?

Certificate of Insurance is a documented statement of coverage offered by the lender for your vehicle. It contains all the information about your insurance policy, including important dates. This is a very important document that one must not lose. It works as a verification document to showcase that your vehicle is indeed covered and insured. Also, it is mandatory to have a certificate of Insurance for your vehicle under the Motor Vehicle Act, 1988.