Is there compulsory insurance

Some insurance coverage is mandatory by law. Third party – motor protection is probably the most familiar legally required insurance.  If you drive a car, the Road Traffic Act states that you must have coverage in case you injure someone or damage his/her property while driving.
You can protect yourself further and acquire a “third party, fire and theft” policy. Furthermore, “fully comprehensive” policies also cover accidental damage to your vehicle as well.
Employer’s liability is another type of required insurance policy. It covers the damages resulting from an on-the-job accident. Buildings insurance, although not mandatory by law, will be usually required by your mortgage lender.