Third Party Liability Insurance For Cars & Motors

A motor vehicle is an essential part of the life of the youth, these days.If you have a car or two-wheeler at your home, you can travel from one place to another and come back at your own convenience. In fact, you do not have to worry about jam-packed public transport means. However, your journey between your source and destination can be ruined out of the blue, in case you do not carry the set of mandatory documents, such as your Driving License, PUC Certificate, Registration Certificate, and not to forget – a valid insurance policy document.

People often get confused over buying motor insurance and fail to decide whether to buy a package policy or liability only insurance. Read below to get the most appropriate answer to this query or confusion:

Why You need Third Party Liability Insurance For Your Car and Motors?

Although motor insurance comes handy when you purchase a car or motorcycle/scooter from the authorized dealer, some auto dealers might allow you to purchase a policy of your choice. It is recommended to purchase a package policy if your vehicle is brand new or not more than 7 year old in order to avoid expenses arising from fixing damages caused due to an accident or in the case of stolen vehicle. In contrast, if your vehicle is quite old and you no longer want to spend much of your hard-earned money on it, then you can opt for a third party insurance.

What is Third Party Liability Insurance?

In case you might not know, every motor vehicle – be it a car or motorcycle/scooter – plying on the roads in India must be insured or have valid third-party liability coverage at least, as per Motor Vehicle Act, 1961. A motor insurance policy ensures that you would not have to bear any sort of expenses or legal liability arising from an accident, loss or damage to your vehicle as well as to a third party.

Third Party Liability Car Insurance

Inclusions and Benefits of Third Party Car Insurance:

A third-party insurance policy for your car or two-wheeler provides coverage against certain unfortunate events that lead to heavy expenses arising from an accident that led to injuries, damages, or death of a third party. In such a case, your insurer is liable to pay for the expenses incurred due to that incident.

Exclusions under Third Party Car Insurance:

As the name suggests, third-party motor vehicle insurance policies do not provide coverage for any injury, damages, of the death of the first party, i.e. you. In other words, no coverage would be provided to you, in case you got injured while riding your two-wheeler or driving your car, including the scenario of stolen vehicle.

There are chances that you may have different questions on your mind regarding third-party insurance, such as types of vehicle covered, extent or degree of coverage offered, legal liability and more.Below is a list of such questions along with appropriate answers to each.

You may also like to Read: Third Party Car Insurance and Its Benefits

Third Party Motor Insurance FAQs

  • Q: Am I eligible for third-party liability only motor insurance policy?

    Ans: Anyone who has a motor vehicle registered with the regional transport authority is eligible for third-party liability only insurance policy for their vehicle.
  • Q: Is there any chance I can port my current third-party liability motor insurance policy?

    Ans: Yes, you’re allowed port your current third-party liability only insurance policy to any other insurance company of your choice. In this regard, you need to fill out the portability form with your current insurer at least 45 days prior to the policy renewal date.
  • Q: How do I purchase a third-party liability insurance policy for my car or two-wheeler?

    Ans: You can purchase a third-party liability insurance policy online in simple steps. All you need to do is compare car or two-wheeler insurance quotes at policybazaar and select a third-party insurance policy with a quick payment mode that can be a Debit Card, Credit Card, or Internet Banking.

    Note: You can now avail an additional 10% percent discount on your car or two-wheeler insurance policy by making the payment digitally.

  • Q: What are the key benefits of third-party motor insurance?

    Ans: A third-party liability-only car or two-wheeler insurance policy offers the following benefits:
    • Accidental injuries or death of a third party
    • Damages to third party properties in the surroundings
    • Severe bodily injuries or accidental death of the third-party owner driver
    • Any total permanent disability suffered by the third-party owner driver
  • Q: How do I file a claim under third-party car insurance?

    Ans: You need to immediately inform your insurer about the incident and you will be intimated about the claim settlement after receiving summon from the court. And then, you need to submit the claim form along with the supporting documents to your insurer.
Written By: PolicyBazaar - Updated: 10 June 2020
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