It’s important to know the coverage areas of a third-party car insurance policy. As one can very easily guess from the name, the third-party motor insurance policy is specifically designed in the favor of a third-party person. This means this type of motor insurance plan will not cover any damage to yourself or your own vehicle. Third-party car insurance compensates against the damages or losses done to a third-party person or their property in the event of an accident involving your vehicle.
Third-party car insurance policy covers:
- Legal liability of the insured in case of a third party death or injury of a third party
- Compensation against third party property damage or the surrounding area
- A third-party policy may also include personal accident
The prime purpose of third-party car insurance may seem very little but it certainly does play a main part. Third-party vehicle insurance keeps you from any legal procedures in case of an accident. Now imagine, you are driving your car and you meet an accident which results in the death of a third party person or injures the person badly. Compensation comes second, but you would have to face legal cases against death. But when you have a third-party policy, you can be sure of being on the safe side from any legal liabilities arising out of such circumstances.
By taking your legal liabilities shoulder, third-party vehicle insurance makes sure you are stress-free and drive your vehicle on road with more confidence. Third-party motor insurance costs are lesser than the comprehensive policy. You can easily and instantly buy or renew your third-party car insurance plan directly from your insurer by simply visiting the official website of the company.
You can also make use of various online insurance broking portals such as GIBL.IN, India’s fastest growing online insurance marketplace to renew your third-party car insurance. It, however, advisable to go for the comprehensive motor insurance plan for total coverage since the comprehensive plan covers third-party liabilities as well as the loss or damages to your own vehicle. To avail, the best car insurance policy at the lowest premium, do make sure that you compare motor insurance policies from different insurers online.
Car insurance certainly bringscomfort for an individual with vehicle. Motor insurance is also a legalrequirement in India since it is mandatory as per Motor Vehicles Act. In caseyou get caught without car insurance, you are likely to suffer a heavy fine.
This is why; car insurancepolicies have its very own significance given that it provides you security andsafety from any damage to you and third party in the event of an unforeseenaccident involving your vehicle. There are basically two types of car insurancepolicies: Third Party Legal Liability and Comprehensive Car Insurance Policy.Third party car insurance only covers third party injury or damages and anydamages to the third party property. It doesn’t cover any damage to yourvehicle or your own injury.
Comprehensive car insurancepolicy is designed to offer you total coverage and this is the car insuranceyou require to cover the damages to your own vehicle. Comprehensive car insurancecan be considered as the best car insurance given that it comes with awidespread coverage providing third party cover as well. Comprehensive carinsurance policy is comparatively expensive than just third party insurancecover.
What Does It Cover?
Comprehensive car insurancepolicy has been designed to cover the loss or damage to your vehicle caused bycertain events. These unforeseen events include (but are not limited to) theft,fire, vandalism etc. Comprehensive car insurance plan also comes with deductibleswhere you volunteer to pay a certain amount and this amount is to be paidbefore the insurance company pays for the damages.
It is always advisable to buy theComprehensive insurance policy in terms of choosing the best car insurance inIndia for your vehicle since it covers the vehicle, the insured as well as thethird party in a single policy. This type of insurance policy covers all therisks covered in the Motor Vehicles Act and in addition also covers the loss ordamage caused to the vehicle due to:
- Burglary, theft, riots and strikes
- Malicious acts, terrorism or terrorist acts
- Hurricane, typhoon, cyclones, storm
- Fire or Theft, Accident.
- Earthquake and floods
- Self-ignition, explosion, lightning
- Any damage to the vehicle while it’s in transit by rail, road, elevator, air, waterways etc.
- The towing expenses incurred after an accident.
What Are the Exclusions?
- Any damage to the vehicle while driving it under the influence of alcohol or drugs at the time of impact.
- Vehicle that is driven by a person not having a valid driving license.
- Any damage to the tyres if the vehicle is not also damaged at the same time.
- Mechanical breakdown, wear and tear is not covered
Now you know what comprehensivecar insurance is, what it covers and what it doesn’t cover. Meanwhile, you canclick here to check out some of the top car insurance plans available onlinefrom the best insurers.
