Every car owner should purchase motor vehicle liability insurance to provide reasonable protection against unnecessary costs arising from medical treatment, property damage or financial loss, accidental or legal liability on the part of a third party. Several reputable insurers in the country have offered effective liability insurance to protect people from such incidents.
Simply put, this is an insurance policy that protects you from any legal obligations that might arise in the event of an accident. Suppose you hit someone’s car and cause them serious damage. In this case, your insurer will bear the costs and/or liabilities arising from such eventualities.
Yes, it is true that third party car insurance is mandatory in India. If you are going to buy a new car, you should also get car insurance. Under the Motor Vehicles Act 1988, serious legal problems can arise when you drive a car on the roads of India without a valid insurance plan. The best thing to do is to get at least liability insurance for your car.
Now you need to think about the inclusions in third party auto insurance. In the context of liability insurance, the insurer is liable in the event that the insured is liable for damage or loss to third parties.
The insured person is called the first party, the insurer or insurer is called the second party and the injured party is considered the third party.
When shopping for car insurance, be sure to compare multiple plans online. To understand liability insurance coverage in detail, let’s take a detailed look at the coverage this policy offers:
These are the benefits that are included in third party car insurance. The above coverage offers the insured great advantages in the event of an accident or other inconvenience.