If you own a car then it is statutory on your part to have a third party car insurance which is in force. Knowing the fact that accidents can happen anytime and anywhere, it can cause loss of life or damage to the third party property. It is in such cases that you need third-party car insurance to take care of such grave liabilities.

How is third party car insurance different from comprehensive insurance plan?

Most of the people confuse third-party car insurance with the comprehensive insurance policy when there is a basic factor that distinguishes both. The comprehensive insurance plan is a combination of third party car insurance and personal damage cover. Hence, this policy covers the damages to both your automobiles and the liabilities of the third party. On the other hand, the third party car insurance covers only the third party liabilities.

The key features of third-party car insurance:

Though the experts generally recommend the comprehensive insurance plan for cars, the third party car insurance cover has its own benefits:

  • This plan offers protection against injury or death to the third person in the event of an accident involving your car.
  • Purchasing a third party car insurance is very easy due to the fact that it does not need much documentation. The chief reason is that this plan does not cover losses such as theft or damage to your insured automobile.
  • When compared to the comprehensive insurance cover, the premium for an exclusive third party car insurance cover is low.
  • You will be able to enjoy peace of mind when you purchase third party car insurance plan because all the liabilities that are uncertain as well as unlimited when it comes to the death and injuries of third parties will be financially covered.

What all does the third party car insurance cover?

The third party car insurance plan is also known as the “Liability Only” plan. It covers the following events:

  • Damage to the property of the third-party: This plan covers the damages done to the third party vehicles. There is a limitation of 7, 50,000 INR for car on the sum payable as third party property damages.
  • Body injury or death of a third party involved: An accident can lead to crippling injury of the victim. It can also cause the death of the involved third party. This plan covers the healthcare expenditures of the victim. The victim of the accident is also eligible to claim expenses because of the loss of income as he or she would not be in a position to continue work. It is the insurance company that compensates for the claim.
  • Death of the owner or driver: The dependents of the owner or driver of the insured automobile gets compensation in the event of his or her death because of the accident concerning the car, if the owner-driver PA cover was opted for.

What all is excluded in the third party car insurance cover?

The third party car insurance plan does not cover the following events:

  • Any liability or damage caused by the activities outside the geographical location of the plan.
  • Damage caused to the policyholder’s vehicle.
  • Any claim that arises out of a contractual liability.
  • Loss caused because of the warlike situation, war, nuclear weapons and radioactive combination.

How does one file a claim with the third party car insurance provider?

There are three simple steps that must be followed for a victim or the family in order to claim third party car insurance:

  • File a police complaint: This is the vital aspect of lodging a claim. The family or the victim should file an FIR at the nearest police station. One should give crucial details like the registration number of the automobile involved in the accident, license information of the perpetrator, name, and information of the credible witnesses.
  • File a complaint with the car accidents claim tribunal: After you have filed the FIR, you should file the claim with accidents claims tribunal, which is the legal authority to conduct proceedings and arrive at the liability’s quantum.
  • Settlement: The tribunal reaches a decision after looking at all the aspects. The insurance company is bounded by the decision announced by the tribunal to pay the claim sum unless opt to appeal.

In order to make sure that you do not financially dry yourself in the event of such accidents and damages caused to the third party through your car, get your third party car insurance right now from Coverfox.com.  

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