What Are The Major Differences Between First Party And Third Party Car Insurance?

A car insurance policy can be of three types viz. first party and third party car insurance. The first-party car insurance provides much-needed relief to the owner of the vehicle by covering the losses and damages that are caused due to an accident, natural calamity, or man-made disasters like riots or strikes.

It provides the financial liability that you have to face if a third party suffers a health condition, disability, vehicle, or property damaged by your vehicle. Also, it comes with a personal accident cover if you suffer from a disability or death from an accident.

Third-party car insurance will minimize your financial liability in case a person suffers from an injury or if his property or vehicle gets damaged due to an accident with your vehicle. You can search for a motor insurance policy online to get coverage for damages due to theft, riots, strikes, terrorism, landslides, flood, terrorism, and other man-made and natural disasters. A car insurance policy can provide the following benefits to you:

Key replacement cover

Don’t panic if you lose or damage your key cover in an accident or if it gets stolen as a motor insurance policy will provide you with a key replacement cover. This cover can be used to clear the replacement service fee charged by a locksmith.

Third-party insurance

Any damage to the property, life, or vehicle of the third party due to your car is also compensated by a car insurance policy.

Cover for accidents

Subscribe to a car insurance plan that comes with personal accident cover to compensate for the loss of life or disability for you (owner), your driver, or co-passenger.

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