Third party car insurance is the minimum level of cover you can take out - it is a legal requirement.

Define third party car insurance. But one of the most important roles your insurance policy plays is in covering damage you cause to other peoples property. However in the past Father had allowed Son to. 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.

So this is usually the other driver involved in an accident. Unfortunately accidents often result in legal proceedings and lawsuits. This kind of policy helps protect other people vehicles and property in the event of an accident that was deemed to be your fault.

Third Party Property insurance or Comprehensive insurance covers the third party with the repairing cost of the vehicle any property damage or medication expenses as a result of an accident by the insured. It covers damages and injuries caused by the insured vehicle to a third-party person or property. 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.

Even if you do everything you can to prevent damage or injury they still happen. Youre considered legally responsible if someone causes injury or damage when using your car even if youre not present at the time of the accident. During the meeting it was also agreed that a team will be formed to develop the insurance sector and standardise third party.

This insurance pays for the injuries of the occupants of the other vehicle the cost of repairing it as well as damages caused when you are determined to be the at-fault driver. A third party car insurance policy ensures that if you cause an accident any damage to the other persons vehicle or. A 3rd party car insurance policy is a legal requirement for driving a car in India on public roads.

It enables the second party to pay any third party legal liabilities of the first party in the form of monetary compensation to the third party. Key Concepts and Practical Strategies. A third-party car insurance plan provides coverage against any legal liability arising out of injuries to a third-party when the policyholder is at fault.