Otherwise those costs are on you.

What does third party insurance covers. Jumat 13 Agustus 2021. The policy does not provide any benefit to the insured. Your third-party insurance would cover the cost of the other persons car and medical expenses.

It provides compensation for people injured or killed in a car accident that is deemed to be not their fault. What isnt covered though is damage to your own car or any injuries you suffer. What does third party insurance cover.

Maybe you would like to learn more about one of these. Repair costs for vehicles damaged in an accident caused by you. Third-party insurance which is also sometimes referred to as act-only insurance is a statutory requirement for all vehicle owners as per the Motor Vehicle Act.

What Is Covered By Third-party Liability Insurance. Third-party insurance provides coverage when you are responsible or at fault resulting in property damage or personal injury. What Does 3rd Party Motor Insurance Cover in Nigeria.

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. Third party insurance protects customers against financial ruin from potential claims for injuries or damages they may cause to another person. Basically third-party insurance is liability coverage thats purchased by a consumer first party from an insurance company second party to protect against claims from other people third party for injuries or damage the first party causes.

Third party compulsory insurance is meant to cover any other road user that you might injure while driving. For that youd need a comprehensive insurance policy. Repair costs to any property youve damaged.