26/04/2019 Financial & Legal Services
There are two types of car insurance – comprehensive policy and third party policy. As per
Motor Vehicle Act, 1988, it’s a legal requirement for every vehicle owners to have third party
car insurance whereas the comprehensive auto insurance is optional. Let’s find out some of the
benefits and disadvantages of the third party car insurance policy in India.
Third Party Car Insurance Policy – on the Positive Aspect
There are plenty of benefits of third-party car insurance plan. Third party motor insurance
covers the damages to other vehicles, person and property involving your car.
Third party Car Insurance online can be easily procured through various insurance
portals. This way you can buy or renew auto insurance quiet simply and easily in no
time. Third party auto insurance is available 24x7 when applied online.
Third party car insurance covers an insured person against legal liabilities in case of
damage, death or disabilities to any third party. The liability only insurance takes care of
Since third party auto insurance plan settles the expenses and expenditures through
financial payments when your car gets in an accident with another car, you get a total
peace of mind while driving your vehicle.
One of the main advantages of the third party motor insurance is its cost.
If your car is involved in an accident where you are at fault, you’ll be on the safe side.
The Negative Sides of Availing Only Third Party Car Insurance
Since third party car insurance only covers the damages of a third party, you are not
officially entitled to receive any benefits out of this kind of insurance for your vehicle.
In the event of theft or damage of your vehicle due to fire, your third party
policy will not provide any help.
In case of an accident, the damages done to your own vehicle will not be
This is the reason why it’s always wise to go for the comprehensive car insurance plan which
covers the third party legal liability as well as the damage to your own vehicle. If you are looking
for a car insurance policy offers the best coverage at the lowest premium, just click here and
get the best car insurance quotes online.