Third-party insurances are the bare minimum and are the least required.

What is third party car insurance. A third party car insurance policy ensures that if you cause an accident any damage to the other persons vehicle or. Its not the same as compulsory third party CTP insurance which pays for any costs associated with injuries caused to other people. Third-party car insurance or third-party property damage insurance is meant to provide compensation when claims for car or property repairs are filed against you.

Also known as Liability-Only policy or Act-Only policy this type of four wheeler insurance provides coverage benefit only to third parties. Unfortunately accidents often result in legal proceedings and lawsuits. Most states require both types of coverage.

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. In the US this type of coverage is more commonly referred to as liability insurance. You must have to read this article which gives you detailed information about what does Third Party Car Insurance policy Covered or not covered.

Property damage liability coverage and bodily damage liability coverage. Third party car insurance is the minimum level of cover you can take out - it is a legal requirement. Third Party Insurance protects you from legal liabilities which may arise in case of an accident.

Premium is fixed by the IRDA and is constant across the insurance companies. Third Party Car Insurance is a type of car insurance that covers you for damage caused by the use of your car to other peoples vehicles or property if youre liable for it. 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 auto insurance also known as liability insurance is a type of car insurance that pays for losses you cause others. Third party car insurance covers injuries or death of third parties due to an accident. Suppose it happens to you and you are found to be at fault for the collision.