Usually, opting for comprehensive car insurance is better than third party insurance but it will incur a higher premium.
As per Motor Vehicles Act, it is mandatory for both parties to transfer car insurance policy within 14 days from the date of purchase.
Most insurance companies in India provide a grace period of 90 days during which you can renew your car insurance policy.
Car insurance: A car insurer may decide to inspect the vehicle before renewing its insurance policy if it has not been renewed for a long time.