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.

Is third party insurance enough. However it could be high if you have a bike with a high engine capacity. 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. Unfortunately accidents often result in legal proceedings and lawsuits.

What Does Third Party Insurance Cover. The insurance company is liable to pay for damages caused by the vehicle of the insured to any vehicle or property belonging to some other person. Third-party liability insurance TPL is an important form of protection found in your automobile policy.

Why Should You Not. Although mandated under the Motor Law to ease financial grievances of the two-wheeler owner Third Party insurance coverage is not enough. Standard practice for insurance companies and insurance brokers in Alberta is to recommend 1 million in third-party liability coverage in an automobile insurance policy.

However having a third party insurance cover only is not enough. In order to drive in Ireland you are legally required to have third party insurance in place at a minimum. Most drivers in Ontario have 100000000 in coverage.

Car insurance is important not only for your car but also for your financial stability as it keeps you insured against sudden and unexpected financial losses due to unfortunate events like road accidents. Is the premium of a third party insurance policy high. Third party car insurance is the minimum level of cover you can take out - it is a legal requirement.

In addition to giving you peace of mind the main purpose of third-party liability coverage is to protect your assets in the event damages are assessed against you. However getting that advance can be difficult and youre going to need the help of a lawyer to navigate that process for you and get something in the short term. Any damage that may have been caused to the vehicle of the insured due to theft or accident is not covered under this Act.