Third-party car insurance

What is third-party car insurance?

With a third-party liability insurance policy, you can keep others safe and secure too. We will cover your legal liability towards third parties for bodily injury (including death) and property damage caused by an accident involving your vehicle. The third-party liability insurance policy is a mandatory requirement as specified under the Motor Vehicles Act, 1988. So, if you own a car, you have to buy the third-party coverage mandatorily.

Features of our various third-party liability car insurance policies

A third-party liability car insurance policy has the following features:

• Coverage against third-party liability

  If you incur any financial liability due to physical injury, death or property damage suffered by another individual, it is called a third-party liability. Such liabilities are covered by the third-party liability car insurance policy. If you face such liabilities, the policy compensates the third-party on your behalf.

• Low premiums

  The premiums for third-party car insurance plans are determined by the Insurance Regulatory and Development Authority of India (IRDAI). The premiums depend on the cubic capacity and segment of the car and are low.

• Long-term coverage

  For new cars, the third-party coverage is allowed for a long-term period of three years. You don’t have to renew the policy every year.

• High coverage

  The third-party policy covers bodily injury and death up to the amount decided by the motor tribunal. Whatever is the liability amount, the policy covers it. Property damages are covered up to Rs.15 lakhs.

• Cashless claim settlements

  Under comprehensive plans you can get cashless claim settlements on repairs if you take your car to a networked garage

Key benefits of Liability Only - Private Car Insurance

• Covers death of third-party due to accident

• Covers bodily injury to a third-party

• Covers third-party property damage

Exclusions

• 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.