Like anything else, cars also need proper maintenance and preventive safety measures to protect them from inattentive mishaps. That is why the right car insurance policy plays a significant role in getting assured from these unpredictable instances.
However, some car owners do not want a comprehensive car insurance policy that provides coverage for third-party liabilities and own damages. That is why third-party theft & fire insurance policy is introduced to meet the requirement of those people who do not want a comprehensive car insurance cover.
This car insurance policy does not cover you for your own damages that have occurred in a road accident. But will certainly cover for an attempted theft that led to losses or damages to your insured car.
As the name suggests, a third-party fire and theft insurance policy provide you cover for third-party liabilities as well as loss or damage caused in a fire incident, or the insured car gets stolen. Whereas, third-party insurance will only provide cover for the third-party liabilities, which is also a mandatory cover in India.
A comprehensive insurance plan provides extensive coverage as it covers for the third-party liability and your own damages caused due to accidents, natural & man-made disasters, theft, fire, total loss, etc. Also, it is costlier than the third-party fire & theft insurance plan. This is how it differs from third-party fire & theft insurance.
When you purchase a car you consider several things like your budget, what kind of car you want, horsepower, if the car meets your requirements, etc. Similarly, while purchasing an insurance policy you need to consider several things. Here are the things that you must consider while buying a third-party fire and theft plan-
There are chances that your claim might get denied by the car insurance company. Here are some reasons:
A third-party fire & theft insurance policy is more expensive than a third party insurance and less costly than a comprehensive car insurance policy.
However, you must check the value of the different insurance policies. For that, you can visit the official website of Policybazaar Insurance Brokers Private Limited and check the insurance premium for your car model. You can also compare multiple plans offered by insurers and find an affordable deal in your budget.
It would be a good idea for you to purchase this insurance plan if you do not drive your car often. It is a cost-effective insurance plan and purchasing it online would make your deal successful.
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