Let's take a look at the features, necessity, and eligibility criteria of Third-party car insurance!
Although third-party car insurance does not cover any damage to your vehicle, it comes with various inclusions that can be advantageous if you meet with an accident. It includes:
This car insurance covers legal liabilities and compensation for damage caused by your car to a third party's property, like their car or house, up to the policy limit.
It involves all the legal expenses like court fees, lawyer's fees, and other expenses if any claim is made against the damage done by your car.
The third-party insurance also covers expenses like loss of income and medical expenses of the person in case the accident involves death or injury to the third party.
In various countries, Third-party car insurance is the minimum insurance mandated by law for all car owners. The main reason behind this is that it covers the protection of the third party that may get involved in an accident caused by your car.
This is the most affordable insurance coverage that is beneficial for you. So, even if it is not a mandated insurance policy in any of the countries, purchasing at least this third-party car insurance is suggested.
As the cost of accidental compensations and legal liabilities are high, this insurance policy can cover the charges of the third party, including legal charges, medical charges, and more.
It is very easy to claim this type of car insurance. Follow the given steps:
Inform the insurance provider about any accident that has led to damage or loss of a third party.
Mention each important detail while informing the insurer about the accident, including the incident's photo, witness, place and time of the accident, policyholder�s details, etc.
Lastly, the insurance company will verify your documents and details provided and settle the third-party claims.
You must hold an active driving license.
You must be 18 years of age or above.
You must be a native of India.
In conclusion, third-party car insurance is the most affordable and basic car insurance, and every car owner must have it. Although this insurance does not cover any damage caused to your car, it at least covers damage caused to a third party which can be entirely on you in case of an accident. As a responsible car owner, it is essential to have third-party car insurance for financial and legal protection.
So, if you are looking for any assistance related to car insurance. You can also download the Park+ app, as it is easy to use, and you can find information in minutes on this app.