Third party car insurance is a mandatory motor insurance policy under the Motor Vehicles Act, 1988. It provides financial protection against bodily injury, death and property damage caused to a third party by your insured vehicle.
If you accidentally injure someone or damage their property while driving, third party car insurance ensures you are not financially burdened with the compensation cost. However, third party car insurance does not cover damage to your own vehicle, making it a cost-effective yet limited protection option.
A third-party liability car insurance policy has the following features:
One of the biggest advantages of third party car insurance is its affordability. Since it only covers third-party liabilities, the premium is significantly lower than that of a comprehensive insurance plan. This makes third party car insurance a great choice for those looking for legally compliant yet budget-friendly motor insurance.
Third party car insurance covers financial liabilities arising due to damage caused to another vehicle, injuries to another person, or damage to third-party property. This ensures that you do not have to pay for these expenses out of pocket in case of an unfortunate incident.
As per IRDAI regulations, third party car insurance includes a mandatory personal accident cover for the owner-driver of the insured vehicle. This provides financial compensation in case of accidental death or permanent disability due to a road accident.
Buying a third party car insurance policy is simple and hassle-free. It can be purchased online with minimal documentation, ensuring quick and convenient policy issuance without any lengthy procedures.
Third party car insurance is essential for vehicle owners as it is legally required in India. Driving without valid third party car insurance can result in heavy fines and legal consequences.
Additionally, it offers protection against third-party liabilities, ensuring that you are not financially stressed in case of an accident involving another person, vehicle, or property. It provides peace of mind by taking care of your legal and financial responsibilities towards others on the road.
The premium rates for third party car insurance are standardized by the Insurance Regulatory and Development Authority of India (IRDAI). These rates are primarily based on the engine capacity of the vehicle and remain fixed across all insurers to ensure transparency and fairness.
With the increasing adoption of electric vehicles, IRDAI has introduced specific third-party car insurance premium rates for EVs. These rates are typically lower than those for conventional fuel-powered cars, making third-party car insurance for EVs more affordable.
· Injuries or death of a third party due to an accident involving your vehicle.
· Damage caused to another person’s vehicle due to a collision.
· Third-party property damage, such as damage to a building, wall, or any other structure.
· Legal liabilities arising from third-party claims.
· Compulsory personal accident covers for the owner-driver.
· Any damage sustained by your own vehicle.
· Theft or loss of your insured car.
· Injuries sustained by the policyholder while driving.
· Damage due to natural disasters like floods, earthquakes, or landslides.
· Damage caused by fire or explosion.
· Additional add-ons, such as roadside assistance or engine protection.
Feature | Third-party car insurance | Comprehensive car insurance |
Coverage | Covers third-party damages, injuries, and legal liabilities. | Covers third-party liabilities as well as damages to your own vehicle. |
Legal requirement | Mandatory as per law under the Motor Vehicles Act, 1988. | Optional but recommended for extended protection. |
Premium cost | Lower premium, making it an affordable choice. | Higher premium due to broader coverage. |
Own vehicle damage | Does not cover damage to your own vehicle. | Covers damages to your own vehicle due to accidents, theft, fire, man-made events and natural disasters. |
Third-party liability | Provides financial protection against third-party property damage and bodily injuries. | Includes third-party liability cover along with own vehicle damage. |
Theft protection | No coverage for theft or total loss of the vehicle. | Provides compensation in case of theft or total loss of the vehicle. |
Fire & natural disaster coverage | No coverage against fire, floods, earthquakes, riots, or vandalism. | Offers protection against damages due to fire, floods, earthquakes, and other natural disasters. |
Add-on covers | No add-on covers available. | Multiple add-ons like depreciation cover, roadside assistance, and engine protection can be added. |
No claim bonus (NCB) | No NCB benefit is available. | Policyholders can earn and retain NCB discounts on renewal for claim-free years. |
Best for | Individuals looking for basic and legally required insurance at an affordable price. | Those looking for extensive protection against various risks and damages to their vehicle. |
· Engine capacity of the vehicle: Higher engine capacity leads to higher premiums.
· Type of vehicle: Private cars and commercial vehicles have different premium structures.
· Regulatory guidelines: IRDAI sets fixed premium rates for third-party car insurance.
1. Visit Zurich Kotak General Insurance’s official website.
2. Enter vehicle details and select a third-party car insurance plan.
3. Make an online payment and get instant policy issuance.
4. Download and store your policy document for future reference.
Renewing your Zurich Kotak General Insurance third-party car insurance online is easy and quick. Follow these steps:
1. Visit the Zurich Kotak General Insurance website – Go to the official Zurich Kotak General Insurance website.
2. Enter vehicle details – Input your car’s registration number and policy details.
3. Select the policy type – Choose the third-party car insurance renewal option.
4. Review premium amount – The premium amount will be displayed as per IRDAI regulations.
5. Make online payment – Use secure payment methods like net banking, credit/debit cards, or UPI.
6. Receive instant policy document – Once the payment is successful, the policy document will be emailed to you instantly.
To avoid legal penalties and ensure continuous coverage, renew your policy before its expiry date.
If an accident occurs and you need to raise a claim, follow these steps:
1. Inform Zurich Kotak General Insurance – Report the accident immediately to Zurich Kotak General Insurance through their customer support or website.
2. File an FIR – In case of injuries, fatalities, or significant property damage, lodge an FIR at the nearest police station.
3. Gather evidence – Capture photos and videos of the accident scene, vehicle damages, and any third-party injuries.
4. Submit claim documents – Provide essential documents, including:
a. FIR copy
b. Insurance policy details
c. Vehicle registration certificate (RC)
d. Driving license of the insured driver
5. Claim assessment – Zurich Kotak General Insurance will evaluate the claim as per policy terms.
6. Settlement process – If the claim is approved, Zurich Kotak General Insurance will compensate the third party for damages within the policy coverage limit.
Since third-party insurance claims involve legal proceedings, the resolution time may vary. Ensure you submit all required documents promptly for a smooth settlement process.
Covers death of third-party due to accident
Covers bodily injury to a third-party
Covers third-party property damage
This cover does not protect you from the cost of any damage to your own vehicle or belongings in the event of an accident. Hence, it is recommend that you opt for a comprehensive cover instead of just the third-party liability cover.
1. Is third-party car insurance mandatory in India?
Yes, third-party car insurance is legally required under the Motor Vehicles Act, 1988, for all vehicle owners.
2. Can I upgrade my third-party car insurance to a comprehensive policy?
Yes, you can upgrade to a comprehensive policy at the time of renewal to get additional coverage benefits.
3. How is the third-party car insurance premium rate calculated?
The Insurance Regulatory and Development Authority of India (IRDAI) determines the third-party car insurance premium rates based on the engine capacity of the vehicle.
4. What happens if I drive without third-party car insurance?
Driving without third-party car insurance can result in legal penalties, fines, or even imprisonment in severe cases.
5. Can I get add-ons with a third car insurance policy?
No, add-ons are not available with third party insurance. If you need additional coverage, consider opting for a comprehensive policy.
6. How can I renew my third party insurance policy?
You can renew your third party insurance policy online through Zurich Kotak General Insurance’s official website by providing vehicle details and making an online payment.
By choosing Zurich Kotak General Insurance, you ensure a seamless process for purchasing and renewing third party insurance online, keeping your vehicle legally compliant and financially protected.
Product | UIN No. |
|---|---|
Liability only (Private Car) | IRDAN152RP0001V02201516 |
Liability Only (Private Car) – 3 years | IRDAN152RP0006V03201819 |