What is Third Party Liability Insurance for Cars and Motors

third party liability insurance for cars

A vehicle is one of the most important part of an individual. It eases the task of traveling from one place to another whenever and wherever you want. Plus it makes your commuting convenient. It also prevents you in traveling in crowd full public transport. However if you do not have sufficient documents such as driving license, Registration Certificate, PUC certificate and a insurance document, it can lead you in big trouble.

When it comes to insurance, there are mainly two types of motor insurance available. These are third party insurance and comprehensive car insurance. Now here people become quite confused like which insurance to choose? In this article, I would be discussing all the queries related to third party liability insurance.

Need for Third Party Liability Insurance for Cars

Nowadays whenever you purchase a car, the authorized dealer also provides the insurance policy along with. However there are some dealers which allows you to purchase the policy of your own choice. It is always advisable to go for complete package policy that is comprehensive package insurance when you car is brand new or till it does not completes its 7 years. In case any damage arises due to an accident or theft, you have not to bear the burden on your pockets. Similarly if your vehicle is quite old and you not at all wanted to spend money on it, then go for third party liability insurance.

What exactly is Third Party Insurance?

As per Motor Vehicles Act 1961, it is mandatory that every motor vehicle that runs on road at least requires a third party insurance. This coverage insures that you need not to bear any financial or legal liability that arises due to damage to your own vehicle or a third party.

Benefits of Third Party Liability Insurance for Cars

A third party insurance provides you the coverage against the coverage that arises due to damage, loss, injury or death of a third party due to your vehicle. In such case, your insurer is liable to pay off the expenses that arises due to such unfortunate events.

Exclusions in Third Part Liability Insurance for Cars

As the name suggest, this type of car insurance policy provides only for third party damages, loss, injury or death due to an accident. There is no coverage for first party. It also does not cover the incident of stolen car.

Still if you are having some queries regarding Third party liability insurance for cars , then read the below the answers of various questions that are asked frequently.

Queries related to Third Party Insurance

Question 1 – Am I eligible for Third Party Motor Insurance Policy?

Answer 1 –  Any individual who has a vehicle whether two wheeler or car registered with RTO are eligible for this type of insurance.

Question 2 –  How to purchase third party liability insurance for my vehicle?

Answer 2 – Nowadays Third party insurance is available online. Just compare various insurance policies of different insurance companies. Select the best car insurance deal and then choose payment mode that includes debit card, credit car, net banking etc.  The most interesting part is when you pay digitally, you receive 10% discount.

Question 3 – What are the merits of taking third party insurance?

Answer 3 – This type of motor insurance consists of the following benefits –

  • Provides coverage for damage or loss to third party.
  • Coverage against death or injury of the third party.
  • Provides protection against severe injuries and death of the owner of third party.
  • Coverage for the permanent disability of the third party owners driver.

Question 4 – How to file claim in case of third party insurance?

Answer 4 – All you need to contact your insurer about the unfortunate events with all the details, photos and videos in the documentation form. Then you need to submit them to your insurer.

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