What Does Third Party Insurance Cover.

What does 3rd party car insurance mean. The third party is another individual. Automobile insurance is broken down into multiple types each with a different deductible. Unfortunately accidents often result in legal proceedings and lawsuits.

January 8 2020 Categories. Third party car insurance third party only is the most basic policy type and is the minimum level of cover required by law to make sure third parties involved in any accidents are covered. The insured person is termed as first party the insurer or the insurance provider is termed as second party and the person who is injured is considered.

Pay Full Amount. The first party is the insured individual. Third-party liability coverage is the portion of an insurance policy that protects you if youre sued or threatened to be sued for a physical injury or damage to someone elses property.

Motor third-party insurance or third-party liability cover which is sometimes also referred to as the act only cover is a statutory requirement under the Motor Vehicles Act. Third party car insurance is the minimum level of cover you can take out - it is a legal requirement. If you have collision insurance and you have been in an accident where your car requires a repair the amount you pay depends on whether you are at-fault or responsible for the accident.

Third party insurance is the minimum level of cover required to drive in Ireland and means that in the result of an incident any damage to a third party is covered but damage to your own car is not. In order to drive in Ireland you are legally required to have third party insurance in place at a minimum. Also known as Liability-Only policy or Act-Only policy this type of four wheeler insurance provides coverage benefit only to third parties.

TPO covers damage to other people and other cars but any damage to your own car is your responsibility to fund and sort. Third-party liability insurance TPL is an important form of protection found in your automobile policy. For that youd need a comprehensive insurance policy.