It covers third-party damages up to Rs 75 lakh.

What is covered in third party insurance. It doesnt provide any coverage against the damages caused to your own vehicle. A third-party insurance plan provides coverage against the damages to any third-party vehicle and bodily injuries caused to any third party due to an accident. Medical costs for anyone youve injured.

What Is Covered By Third-party Liability Insurance. The Own Damage cover is one of the main covers of First Party insurance. Your third-party liability covers the following.

Third-party insurance covers an individual or firm against a loss caused by some third-party. A few third party liability coverage policies include commercial liability insurance homeowners insurance and auto insurance. 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.

Under a third-party policy the insurer covers the liabilities in case the policyholder is responsible for any injury or loss to a third party. It is also known as a Comprehensive car insurance policy. Third-party liability auto claims payouts accounted for 471 of all direct claims incurred in 2019 according to the Insurance Bureau of Canadas IBC 2020 Facts of the Property and Casualty Insurance Industry in Canada report.

If you dont know wh. It covers for a wide range of third-party damages such as. Legal fees and lawsuits as a result of the accident.

Third-party fire and theft insurance is like third-party insurance in that it mainly covers other drivers and third-party property damage. Third party compensation If you are involved in a crash the third party involved in it with you may claim compensation from you. What is Third-Party Cover.