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All You Need To Know About Third Party Car Insurance

A third party car insurance offers cover for any legal and financial liability against any third party, in case your vehicle gets involved in a mishap like an accident. The third party car insurance provider bears any claims for damages to property or bodily harm caused by the policy holder’s vehicle to any third party. Claims are made to Motor Accident Claims Tribunal and the insurance company provides financial cover on behalf of the policyholder. There is no fixed limit for death or injury that is caused to any third party. 

Here are the details of this policy - 

A normal policy is divided into three categories - for bodily harm compensation per accident per victim, for overall bodily harm limit per accident and for property damage. Policy seekers can buy the policy based on estimation on how much coverage they might be needing. 
The main advantage is the financial cover extending up to Rs. 7.5 lakhs. This is born by the insurance provider in case your vehicle is involved in a road mishap with any third party. It saves you from shelling money for legal and financial causes from your own pocket. Hence, it is good to have a third party car insurance policy cover. Besides, you can easily get the policy online and renew it there too. It saves not just time but lets you buy the policy as per your convenience. 

Like every policy this too has its certain limitations though when weighed in front of the pros is not of a big deal. The policy does not cover theft, damage caused to your vehicle due to fire, or if damages occur to your vehicle if you are responsible for the accident. 

Lastly, it is suggested to get the policy from experienced lenders who settle timely claims keeping your individual needs in mind. 


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Location: India

Comments

  1. sagar yadav26 February 2019 at 19:31

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    ReplyDelete
  2. Trips.pk13 July 2020 at 01:36

    It’s really a nice and helpful piece of info. I’m happy that you shared this useful information with us. Please keep us informed like this. Thanks for sharing.
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