Keeping your motor vehicle insured is essential for any driver, as it can protect you from unexpected financial losses in the event of a collision. When it comes to protecting yourself and your motor vehicle.
What is Third-Party Insurance?
Coverage under Third-party motor insurance,protects the owner of the vehicle insured against liability arising out of injuries sustained or property damaged by the motor vehicle.
Is Third-Party Insurance Mandatory?
Yes. As it’s mandatory for every motor vehicle to have this policy under the Motor Vehicles Act 1988. If you own motor vehicle registered with the regional transport authority, you must have this policy.
Cover for Financial Obligation
Just like every coin has two sides, mishaps on the road tend to affect two sets of people – you and a third party. Unlike video games that treat road accidents and damage to third parties as a casual happening with no consequences, in the real world, you’ll have to bear the financial and legal consequences of the same. The policy protects you against possible legal and financial obligations that may arise from damages caused to a third party.
Cover for Third Party Injuries / Accidental Death
Third Party Insurance,offers coverage against any liabilities arising due to damage caused to a third party like Injuries caused or accidental death to a third party.
