It covers the car owner against any legal liabilities arising out of causing bodily injuries or property damages to third parties by the insured car. Basically, third-party car insurance ensures that Bajaj Allianz Car Insurance Company pays compensation to the third party for their injuries or damages on behalf of the policyholder if he/she is at fault.
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Benefits of Buying Bajaj Allianz Third Party Car Insurance
Take a look at some of the benefits of buying a Bajaj Allianz third party car insurance policy:
- Third Party Liability Coverage - It provides coverage against third party bodily injuries and property damages caused by the insured car during an accident.
- Abides by the Law - It helps the car owner to abide by the motor laws of the country as third party insurance cover is mandatory for all vehicles in India.
- Reduces Driving Stress - It reduces the level of stress while driving as the car owner does not have to worry about dealing with third party legal liabilities in case he/she causes an accident involving a third party.
- Lower Premiums - Bajaj Allianz third party car insurance is available for a lower premium amount as compared to the comprehensive policy.
Inclusions of Bajaj Allianz Third Party Car Insurance
The Bajaj Allianz third party car insurance policy covers the car owner against the following:
- Property Damages - It pays for the damages caused to the property of the third party in an accident caused by the insured car.
- Vehicle Damages - It reimburses the cost of repairing the damages caused to a third-party vehicle by the insured car during an accident.
- Bodily Injuries - It compensates the third party for any physical injuries caused by the insured car during an accident. It also pays compensation to third parties in case the accident results in their death or disability.
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Exclusions of Bajaj Allianz Third Party Car Insurance
Bajaj Allianz General Insurance Company does not cover the following under third party car insurance:
- Injuries of the Car’s Owner-Driver - It does not cover the accidental physical injuries sustained by the owner-driver of the insured car unless he/she has opted for a personal accident cover.
- Own Damages of the Car - It does not provide coverage for any own damages of the insured car arising out of accidental or non-accidental events.
- Electrical/ Mechanical Breakdown - It does not pay for the repair expenses incurred due to the electrical and mechanical breakdown of the insured car.
- Wear and Tear of the Car - It does not pay for the regular wear and tear of the insured car.
- Car Depreciation - It does not reimburse the amount of depreciation levied on the insured car’s value.
- Consequential Loss - It does not cover any consequential loss of the insured car.
- Add-On Covers - It does not offer any add-on covers to expand the coverage of the car policy.
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Note: This is your car’s recommended IDV as per IRDAI’s depreciation guidelines.asdfsad However, insurance companies allow you to modify this IDV within a certain range (this range varies from insurer to insurer). Higher the IDV, higher the premium you pay.