The main thing you get with Third Party Property Damage Insurance is liability cover.

What does third party property car insurance cover. This type of third-party liability insurance helps pay for any damage you do to another persons property with your vehicle. Whats Third Party Property Damage Insurance for. That means the CTP insurance you select when you register your car would pay for another partys personal injuries if you caused an accident.

Thats why you need to be prepared for the off-chance you cause an accident that results in property damage or injuries. Your third-party liability covers the following. The term third party refers to a person involved with a car insurance claim who is not you the holder of the policy or the driver.

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. A third party car insurance policy ensures that if you cause an accident any damage to the other persons vehicle or property will. Third-party liability car insurance prevents you from paying for the damage out-of-pocket and is the only type of car insurance thats mandatory across Canada.

The policy does not provide any benefit to the insured. It covers you for damage. It is referred to as a third-party cover since the beneficiary of the policy is someone other than the two parties involved in the contract the car owner and the insurance company.

Third-party insurance only covers this and nothing else except for some policies which partially cover damage to your vehicle as well even if you are at fault. This cover is different to Compulsory Third Party insurance CTP. See how our customers save big on auto insurance.

Under a third-party policy the insurer covers the liabilities in case the policyholder is responsible for any injury or loss to a third party. Third party car insurance is the minimum level of cover you can take out - it is a legal requirement. Its a basic level of cover all our car insurance policies come with liability cover up to 20 million.