All You Need to Know About Third-Party Car Insurance

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  | Published: 18 October 2021

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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:

  1. The reasonable premium amount is paid by the car owner for the third party car insurance cover.
  2. It is the cheapest type of car insurance cover present in the Indian market.
  3. 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.
  4. 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:

  1. 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.
  2. 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.
  3. 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.
  4. 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:

  1. It covers all the damages that occur to the third-party due to an accident by the insured vehicle.
  2. 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.