All You Need to Know About Third-Party Car Insurance
When you buy a car insurance plan, you may consider various important factors. The first and foremost factor is the type of insurance coverage that you want to select. Comprehensive insurance plan and third-party vehicle insurance plan are the two forms of car insurance covers.
These car insurance plans are different in terms of coverage. In a comprehensive insurance policy, the insurer provides cover against any injury or damage to you and your insured vehicle due to an accident. A third-party car insurance policy does not provide for such losses. In a third-party car insurance plan, the insurer provides for your liability that arises due to an accident including injury or damage to the third-party or property of the third-party.
Features of the Third-Party Car Insurance Cover -
The third party car insurance cover is the form of car insurance cover. Check some of the common features of the third party car insurance policy:
- The reasonable premium amount is paid by the car owner for the third party car insurance cover.
- It is the cheapest type of car insurance cover present in the Indian market.
- The third-party car insurance coverage provides coverage for the liability that occurs due to an accident by the insured vehicle. It covers the injury or damage to the third-party or third-party property.
- Any damage to insured property or injury to the insured is not covered in this plan.
Benefits of the Third-Party Car Insurance Cover -
There are many benefits of buying a third-party car insurance cover. Check out various benefits of this plan:
- Reasonable and Important to the Vehicle Owner in any Unforeseen Situation - The third-party car insurance cover is cost-effective. The premium amount that you pay for this type of car insurance plan is also quite reasonable.
- Peace is Most Important - You get tensed when an accident by your vehicle causes damage to the property of the third-party as it becomes your liability. If you had a third-party car insurance cover, then such liabilities are covered by the insurer on your behalf in consideration of the reasonable premium amount. That is why it is good to have a third-party car insurance cover.
- Easy and Quick Process - You can buy a third-party car insurance plan easily with the help of the online medium in just a few taps. You can do this in your comfort zone as you do not have to go somewhere to buy a third-party car insurance cover online. You can buy it from your home, office, or any other place. Moreover, you can buy it at any hour of the day or night.
- Assures Financial Assistance and Legal coverage - In case of any damage or injury to the third-party property or to some person due to the accident by your car, the insurance company provides financial assistance, if you have a third-party car insurance cover. In this way, it reduces your financial and legal burden. So it is always good to have a third party car insurance cover.
Inclusions of the Third-Party Car Insurance Cover: Below mentioned are the inclusions of the third-party car insurance cover:
- It covers all the damages that occur to the third-party due to an accident by the insured vehicle.
- The damages include death, property damage, and injuries.
Over to You:
In this way, a third-party car insurance policy is an affordable option, but it provides very limited coverage. So, this policy is good for an old vehicle that you want to sell-off or a vehicle that you very occasionally use. However, for a new and expensive car, it is suggested to use a comprehensive insurance plan.