Third party motor insurance is a kind of insurance under which the insurance company agrees to indemnify the insured person, if he is sued or held legally liable for injuries or damage done to a third party. For example, if you were to crash into another car and the accident turns out to be your fault, then your liability to the driver of the other car would be covered, although you would not be able to claim for damage to your own.
Third-party motor insurance covers you against:
According to the Motor Vehicles Act, 1988, a motor third party claim can be filed by the affected person in a tribunal at the place of mishap, at a place where the owner of the vehicle resides, the driver involved, or the injured person or his dependants inhabit.
If you really want peace of mind, you should surely avail the third-party motor insurance to cover your vehicle. Have a safe and happy driving!
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