Why do you need Voluntary MTPL if you already have compulsory MTPL? Suppose an accident occurs, and you are at fault. What happens if the damage you caused exceeds the amount covered by the compulsory MTPL contract? In this case, you will have to pay the additional amount out of your own pocket.
If you have Voluntary MTPL, the insurance company will cover this amount for you. You pay a small premium for Voluntary MTPL, but in return, you avoid large, sometimes million-dollar expenses in the future.
