@SaifAli.09 Road insurance is basically a third party insurance. That is, if you hit another vehicle by accident, the insurance company will cover their damages. It is legally required by law but hardly practiced anywhere. This is why Police in Sindh finds it as just a perfect excuse to give you ticket (also to take bribes) even if you have documents with you.
I heard its very cheap. Usually insurance companies do offer third party insurance. Also, try visiting postal insurance office. They may offer cheap road insurance.