Third-party Fire & Theft Insurance Policy In Motor Insurance

Purchasing a car is no less than an accomplishment. However, it does not end here. When you invest a big chunk of your savings into purchasing a car, it becomes your responsibility to protect it. It is mandatory to purchase a third-party insurance policy for your car in India. However, if you do not want to purchase a comprehensive insurance policy, you have the option of a third-party theft & fire insurance policy. So, what is a third-party fire and theft insurance policy?

Read more


third-party-rates

Third-party rates expected to increase* soon. Renew today!

third-party-rates

Third-party rates expected to increase* soon. Renew today!

Stay home & renew car insurance in 2 minutes

No documents required
Get Car Insurance starting at only
₹2072/year*
Processing
Other options
Get Car Insurance starting
@ only 2072/year*
  • Save up to 85%* Lowest Car Premiums

  • 20+ Insurers To Choose From

  • 51 Lakh+ vehicles insured

*TP price for less than 1000 CC cars. All savings are provided by insurers as per IRDAI approved insurance plan. Standard T&C apply.

Top Plans
Cashless Garages
253
Plan type
Comprehensive
Starting from
₹ 2,727
Check premium
Claim Advantage
Self-Video Claims
Reimbursement Within 7 Working Days For Non-Cashless
Cashless Garages
268
Plan type
Comprehensive
Starting from
₹ 2,757
Check premium
Claim Advantage
Self-Video Claims
Reimbursement Within 7 Working Days For Non-Cashless
Cashless Garages
1024
Plan type
Comprehensive
Starting from
₹ 2,868
Check premium
Claim Advantage
Spot Claims Upto Rs. 30,000
Repair service at select cashless garages
See more plans

Above-mentioned prices are for a 7-year-old Maruti WAGON R AVANCE LXI (998 CC) registered in Gurgaon and 15 days before expiry of previous policy

Protection Against Third-party Theft & Fire

The third-party theft & fire insurance policy is specially designed for car owners who do not want a comprehensive cover but particularly want to cover their car against fire accidents and theft. However, it will still not cover you for own damages that occurred in an accident. But there are certain things it will cover if the accident took place because of you:

  • In case the driver of the other car gets injured
  • Another car’s damage
  • Another person’s property damage

If the accident happened because of another driver’s fault then their car insurance policy will provide cover for all the damage caused to you.

Third-party fire and theft insurance policy provides cover for an attempted theft that led to damage to your car such as broken windows.

There are chances that your claim might get denied by the car insurance company. Here are some reasons:

  • In case your car gets damaged due to a fire accident that happened because of an electrical or mechanical breakdown
  • You meet an accident in a car that is not listed in your policy

How Is Third-Party, Fire & Theft Insurance Different From Third-Party Insurance?

As the name suggests, a third-party fire and theft insurance policy provides you cover for third-party liabilities as well as loss or damage caused in a fire accident or the car gets stolen. Whereas third-party insurance will only provide cover for the third-party liabilities.

How Is Third-Party, Fire & Theft Insurance Different From Comprehensive Insurance?

A comprehensive insurance plan provides overall coverage. It provides cover for the third-party liability as well as your own damages. Be it car theft, fire, natural calamity, comprehensive insurance cover it all. Also, it is costlier than the third-party fire & theft insurance plan. This is how it differs from the third-party fire & theft plan.

Things To Consider Before Purchasing Third-party Theft & Fire Policy

Purchasing a car means purchasing an added responsibility. When you purchase a car you consider several things like your budget, what kind of car you want, horsepower, and 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 need to consider while purchasing a third-party, fire and theft plan.

  • This policyprovides cover for third-party liabilities
  • Fire and theft is covered
  • It does not provide cover for own damages
  • Slightly expensive than third-party policy
  • Compare different plans online and then purchase the right one
  • Purchase it if you do not drive your car very often
  • Purchase it if you are a skilled driver and less likely to meet an accident

Conditions Under Which Third-Party Fire & Theft Insurance Does Not Provide Cover

Just like it is important to know the things your policy covers, it is important that you take a look at the list of the things this policy does not provide cover. Here is a list of things it does not cover:

  • If the driver does not have a valid driving license when the accident takes place
  • If the car is used in illegal activity
  • You own damages, bodily injury, death as well as the passengers in the vehicle
  • Loss or damage caused to your car in a war or war-like situation
  • Loss or damage caused by an act of terrorism
  • If the driver is found under the influence of alcohol or drugs when the accident took place

Cost Of Third-Party, Theft & Fire Insurance

It is like a balanced option for the car owner to purchase this insurance policy. This insurance policy comes at a cost that is expensive than a third party and less costly than a comprehensive insurance policy. However, it is important that you check the value of the different insurance policys.

If you want to purchase this plan at a lower price then it will be better that you make the payment in one go instead of paying it in monthly installments. If you pay for the plan on a monthly basis then it is most likely to increase the interest rate of the plan by up to 20%.

Wrapping It Up

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 it even more cost-effective. When you purchase an insurance plan online, you can compare different plans and at one place without going anywhere. You also get to learn about the insurance plan in detail and calculate the premium using online premium calculator.

Written By: PolicyBazaar - Updated: 23 September 2021
You May Also Like
  • Transferring Car Insurance from One Person to Another

    Transferring Car Insurance from One Person to Another An integral part of selling a car, for both the buyer and the seller, is ensuring a successful car insurance transfer to the new owner. But sadly, most people have...

    read more
  • 9 Secrets That Your Motor Insurance Provider Won’t Tell You

    9 Secrets That Your Motor Insurance Provider Won’t Tell You Due to the dangerous driving conditions, it is compulsory to have third party insurance for every vehicle plying on Indian roads. It ensures the overall saf...

    read more
  • Money Saving Advice for All Car Owners

    Money Saving Advice for All Car Owners After a dream home, a dream car is your second-largest purchase that you make in your lifetime. But the expense does not cease when you drive off the car dealer's lot. Read mor...

    read more
  • Difference Between Comprehensive Insurance and Third Party Insurance

    Difference Between Comprehensive Insurance and Third Party Insurance Comprehensive insurance is insurance coverage that pays for the repair or replacement of vehicle damages resulting from an incident. Comprehensive ca...

    read more
  • Types of Motor Insurance

    Types of Motor Insurance The word Motor broadly covers a lot of classes of vehicles plying on the roads. These may be two-wheelers like scooters and motorbikes, three-wheelers or four wheelers like private cars, jeeps, ...

    read more

Find similar car insurance quotes by body type

Hatchback Sedan SUV MUV
insurance-ka-superhero
Search
Car insurance save up to 85
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Calculate your car IDV
IDV of your vehicle
Calculate IDV
Calculate Again

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.

Policybazaar lets you compare premium prices from 20+ Insurers!
Compare Prices

Why buy from Policybazaar?

  • 24x7 Claims Assistance
    NEW
  • Cashless Assurance
  • 3-Day Repair Assurance
  • Free Pickup & Drop
  • Self Video Claims
  • Windshield Claims At Home
View Plans

Car insurance articles

Recent Articles
Popular Articles
Manual versus Automatic Car Insurance - Effect on Insurance Premium

12 May 2022

When it comes to transmission systems in cars, there are two...
Read more
Everything You Need to Know About Private Car Insurance

09 May 2022

A car insurance policy is not just a mandatory requirement but...
Read more
All You Need to Know About CNG Car Insurance

06 May 2022

If you are planning to get a CNG kit fitted in your car or...
Read more
Can I Claim Insurance for Car Scratches in India?

02 May 2022

Yes, you can claim insurance for car scratches and dents in India...
Read more
How to Buy a Car Insurance Policy Without Paying a Commission?

02 May 2022

While buying a car insurance policy, a broker or an agent helps...
Read more
Car Depreciation Calculator
If you are looking to purchase a new car or planning to sell your existing one, it is important to know how...
Read more
Transferring Car Insurance from One Person to Another
An integral part of selling a car, for both the buyer and the seller, is ensuring a successful car insurance...
Read more
Check Car Insurance Status Online on Parivahan Sewa/ RTO?
In India, buying car insurance is a compulsion for every car owner. It doesn’t matter if you are an excellent...
Read more
Getting Your Duplicate Car Insurance Policy is Easy-Here’s How!
Losing important documents, such as your car insurance documents, can be daunting. In such a state of affairs, the...
Read more
Multiple Ways To Check Your Car Insurance Status Online
All insurance companies in India now have a digital presence. It not only makes it easier to buy insurance online...
Read more