Everything You Need to Know About Third Party Car Insurance

There are two types of car insurance policies in India namely third party car insurance and comprehensive car insurance. Third party liability only policy is mandatory as per the Motor Vehicles Act 1988. All vehicles owners must have third party insurance in order legally drive their car on road. Find out more about third-party car insurance below.

Advantages of Third Party Car Insurance

There are plenty of benefits of third-party car insurance plan. Third party motor insurance covers the damages to other vehicle and property involving your car. But your own damage will not be covered within the third party vehicle insurance. In case you don’t have third party auto insurance, you can get sued. Some benefits of third-party liability coverage may include,

·        Since third-party auto insurance plan settles the expenses and expenditures through financial payments when your car gets in an accident with another car, you get a total peace of mind while driving your vehicle.

·        One of the main advantages of the third party motor insurance is its cost. If your car is involved in an accident where you are at fault, you’ll be on the safe side.

• Third party car insurance covers an insured person against legal liabilities in case of damage, death or disabilities to any third party. The liability only insurance takes care of such situations.
• Third party Car Insurance online can be easily procured through various insurance portals. This way you can buy or renew auto insurance quite simply and easily in no time. Third party auto insurance is available 24x7 when applied online.

Disadvantages of Third Party Auto Insurance

Since third-party car insurance only covers the damages of a third party, you are not officially entitled to receive any benefits out of this kind of insurance for your vehicle. It’s always wise to opt for comprehensive auto insurance given that it covers both the third party and your own damage as well. Some of the disadvantages of third-party auto insurance include,

·         In case of an accident, the damages done to your own vehicle will not be covered.

·         In the event of theft or damage of your vehicle due to fire, your third-party policy will not provide any help.

Given that third party car insurance is mandatory, it’s very important to ensure you have this basic cover. However, for a total protection, it’s advisable to opt for a comprehensive car insurance policy.