Third Party Insurance
Cover third party's financial and legal liabilities
with our Third Party Insurance Policy
Third-Party Insurance is the mandatory insurance in India according to the Motor Vehicle Act 1988. To get your vehicle out on the roads even for single time also needs third-party insurance.
What is third-party insurance?
In this type of Insurance, the insurer provides you the financial protection against the loss or damage to the property and injuries, death, or permanent disabilities caused to the third party. The insurance helps in the financial coverage by paying medical bills or the repair expenses of the vehicle to whom you have caused the accident.
Advantages of Third-Party Insurance
The company provides financial protection against any loss or damage caused to your vehicle because of an unfortunate event.
Avoids Last-minute financial burden during unexpected events and hence contributes to solving the mistake.
Fulfils the law: As Third-party liability insurance is mandatory in India; it helps you ride without any fear of being caught.
Pays to a third party: Insurance will immediately settle the financial expenses and help to pay for the damage you caused.
Cost-effective and easy claim: The premium coverage starts at affordable prices and can be easily claimed online and offline immediately without complications.
Disadvantages of Third-party insurance
Does not cover your own damage until you choose the personal accident cover.
Does not save the insurer from natural calamities.
Does not insure from man-made calamities.
Inclusions of Third-Party Insurance
We must let you know all the facts before you decide whether to buy a taxi insurance policy or not. Having a thorough understanding of your insurance coverage will protect you from unpleasant surprises. This policy will pay for the expenses if your car gets damaged due to:
- Financial coverage for the liability in case of Injuries, Permanent Disabilities, and Death of the third party.
- Property damage to the third-party
- In case of death, 100% of the policy premium can be claimed.
- In case of property damage, the vehicle expenses are paid directly to a third-party depending on the network garage or the other service stations, as chosen by the insurer.
- Personal Accident Cover can be included with the third-party insurance at the cost of the extra premium and this helps in settling the expenses of the vehicle owner or rider, in the incidents like permanent disability, Death or injury, and also the damage caused to the vehicle.
Exclusions of Third-Party Insurance
- Own Damage (OD) cover/ damage caused to the vehicle owner without the personal accident cover included in the third -party insurance is a major exclusion
- If no add-ons were purchased, the benefits cannot be claimed.
- Drink and Drive and no safety is provided in the insurance against the misuse rules and regulations
- Without the verified license and proper legal documents.
- Pillion rider without the valid license (In case of two-wheeler)
What are the steps to claim third-party insurance?
- File the FIR and get a copy of it from the nearest Police station
- Inform your Insurer about the incident that happened
- Take the pictures of the vehicle as the evidence
- Submit the documents to your insurance provider and also to The Motors Accident Claims Tribunal.
- After the process, The Motors Accident Claims Tribunal will decide the amount which has to be paid for the third-party by the insurer
- If the limit of the third-party compensation exceeds the amount insured by the insurance company, the extra amount has to be paid by the person who caused the damage.
