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Vital Advantages Of Third Party Car Insurance


In this unpredictable environment, you need to secure every part of your life. It is not just enough to financially secure yourself and your family through life insurance.

It is also important to secure yourself from any unpredictable mishaps caused due to vehicular accidents, be it a two-wheeler or a four-wheeler.

For this, there are many third party insurance policies available for your car. The most common and useful Third Party Car Insurance is one of them

What is Third Party Car Insurance?

Third Party Car Insurance policy is a statutory insurance cover that you need to apply for if you are purchasing a new motor vehicle.

It is an insurance plan which will protect you against any financial liability including property damage, injury or death arising due to your vehicle to any third party.

It is a legal policy mandatory by Indian law and order. It is a legal prerequisite as per the Motor Vehicles Act. It is also known as Motor Third-Party Insurance or Third Party Liability Cover.

Benefits of Third Party Car Insurance

To understand the concept of Third Party Liability Cover better, let us have a look at its advantages:

  • Financial aid and statutory cover – Third Party Motor Insurance plan covers your legal financial liability in the event of death, loss, injury, disability or damage to any third person or his property. You have adequate financial security provided by the insurance company. You will not be the direct beneficiary of this policy, but it will be the third party. However, it will indirectly eliminate your legal liability which is the benefit to you.
  • Relief from unpredictable situations – Third Party Car Insurance plan brings you relief from the unpredictable situations that arise due to any vehicular collision and ultimately turning into unpredictable financial burdens. Once you secure your vehicle with this policy, you will not have to worry about any financial liability or unforeseen expenses arising out of any vehicular incidents.
  • Quick and easy purchase option – Third Party Liability Cover can be purchased easily through the website of the insurance company or through its branch office. You can easily renew it online as well. Since it is accessible online, you can apply for this policy anytime at your convenience.
  • Cost-effective insurance plan – Third Party Car Insurance plan is an addition to your primary car insurance policy. Hence, you get this additional benefit at the same amount of premium. Also, the premium for Third Party Car Insurance is quite low and affordable for all. It is a fixed nominal value updated on an annual basis by the IRDA.
  • Additional rider – You have the option to add the coverage of a Personal Accident Rider to your Third Party Motor Insurance plan. This helps to avail additional benefits in addition to the third party legal liability.

Read Also: Is It Worth Buying A Third Party Car Insurance Policy?

The Bottom Line

With the increasing number of road accidents every year, it becomes utmost important to insure every vehicle in the country with a Third Party Car Insurance policy.

Your primary responsibility will always be to drive safely with a valid license, driving knowledge and proper safety gear.

However, an additional safety gear is the Third Party Car Insurance policy. So, get your car insured with this policy and enjoy your long drives!

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