Now to define third-party car insurance refers to a particular type of vehicle insurance which safeguards you against legal liabilities when you meet an accident with any third-party.

What is 3rd party car insurance. The term third-party car insurance refers to the coverage that kicks in if you cause damage to another person their vehicle or other property not owned by you. Third party car insurance covers injuries or death of third parties due to an accident. You can also add extra features to it for an additional premium to include cover for loss of or damage to your own car caused by fire or theft.

So this is usually the other driver involved in an accident. It offers protection for drivers if theyre at fault in an accident and the other party is hurt or even killed. Third party car insurance is the minimum level of cover you can take out - it is a legal requirement.

Third-party liability insurance is mandatory coverage for all drivers in Canada. This policy safeguards the interests of those who might be injured or whose property might be damaged because of an accident involving the insured vehicle. Premium is fixed by the IRDA and is constant across the insurance companies.

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. Definition of Third Party Insurance Definition. Motor third-party insurance or third-party liability cover which is sometimes also referred to as the act only cover is.

Third party car insurance is a motor insurance contract that ensures protection of the vehicle owner against any unforeseen accidental liabilities arising out of third party vehicle damages property damages bodily injuries disability and death. The own damage covers the loss or damage to the car due to insured perils while the third party covers the death of third party. Third-party car insurance refers to a standard type of coverage that is required in most states.

In the US this type of coverage is more commonly referred to as liability insurance. A 3rd party car insurance policy is a legal requirement for driving a car in India on public roads. 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.