Third-party liability insurance protects you when youre at fault in a motor vehicle accident.

Third party vehicle insurance meaning. It offers protection for drivers if theyre at fault in an accident and the other party is hurt or even killed. A third party is a person or asset which is not owned by you and damaged due to an accident while you are riding a vehicle. This insurance will not cover you or your vehicle.

February 15 2018 Updated on. 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. Also known as Liability-Only policy or Act-Only policy this type of four wheeler insurance provides coverage benefit only to third parties.

A third party car insurance policy ensures that if you cause an accident any damage to the other persons vehicle or. Third-party liability insurance TPL is an important form of protection found in your automobile policy. A 3rd party car insurance policy is a legal requirement for driving a car in India on public roads.

Third-party means it didnt happen to you but to someone else. It covers damages and injuries caused by the insured vehicle to a third-party person or property. January 8 2020 Categories.

Third-party insurance pays the charges when someone makes a claim against you or your car insurance company. Third party car insurance can be defined as liability insurance that is designed to provide protection to other motorists and property owners for the damage you cause. The main purpose of a Third-Party car insurance is to cover you from losses and damages caused to a third-party due to your own car.

Availing Third-party Car Insurance is mandatory as per The Motor Vehicles Act 1988. Even if you do everything you can to prevent damage or injury they still happen. Third party car insurance is the minimum level of cover you can take out - it is a legal requirement.