Third-party liability insurance is mandatory coverage for all drivers in Canada.

What is 3rd party insurance for car. 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 is a car insurance coverage which insures you against all the 3rd party legal liabilities which may arise due to any mishap such as a road accident involving your car. Motor third-party insurance or third-party liability cover which is sometimes also referred to as the act only cover is a statutory requirement under the Motor Vehicles Act.

See how our customers save big on auto insurance. 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. It covers the victims property and any medical costs due to injury.

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. Third-party car insurance plans are cheaper than comprehensive plans. 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.

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. Third party insurance is a type of motor insurance policy that financially protects the car. Third-party only car insurance.

Your insurer will not cover any damages that may occur to your own vehicle. As the name suggests this insurance is the bare minimum and will cover you for any costs that you may be obliged to pay out to a third party as a part of an accident. A 3rd party car insurance policy is a legal requirement for driving a car in India on public roads.

A third party car insurance policy ensures that if you cause an accident any damage to the other persons vehicle or. So if you have a very tight budget settling for third party cover may be a better option. Premium is fixed by the IRDA and is constant across the insurance companies.