answersLogoWhite

Top Answer
User Avatar
Wiki User
Answered
2007-06-24 20:53:01
2007-06-24 20:53:01

Third party insurance, is also called liability insurance. This type of insurance does not cover you per say, but it covers others. When you are involved in an auto accident for which you are at fault, your liability or third party insurance will cover injuries and damages you cause to others, up to your liability limit. For example if you run a stop sign and hit another car, your third party insurance would cover the injuries, medical expenses, and property damage of the car you hit. You have a limit of third party insurance which is outlined by your policy and determines how much you pay for insurance. Each state and province has their own laws, but most require that you have a minimum amount of liability insurance. This is to protect all drivers because if the damages of an accident exceed your liability amount, you will be required to pay the difference, which can end up being several thousand dollars. Therefore it is recommended that you increase your third party liability above the state minimums. If you want your vehicle covered, you need to get comprehensive or collision coverage.

001
๐Ÿฆƒ
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0

Related Questions


The Third-Party Car Insurance policy offers insurance for damages caused to property or life of any third party due to the vehicle that you own. If you are looking for an insurance cover that will protect you, your loved ones in the car and your vehicle too, then you must go for Comprehensive Insurance. Buy Third Party Car Insurance :


One needs a 3rd party insurance coverage to cover for damage for vehicle or property. This kind of insurance covers injury of others, including passengers in the car.


Minimum insurance for cars is 'third party' insurance, for housing it's 'contents'. Third party insurance for vehicles does not cover damage to the owner's vehicle, only fire, theft and damage caused to other vehicles in an accident. Contents insurance for housing insurance, only covers damage to the internal furnishings against natural disasters (flood for example) It does not cover the cost of repairing the building itself.


Like other vehicle insurance, van insurance can be broken down into three general categories. These are Fully Comprehensive Insurance; Third Party, Fire, and Theft Insurance; and third party insurance.


The element of the third party comes in the picture in scenarios where the other vehicle is damaged due to our vehicle which is under the insurance plan. The third part insurance helps to cover these losses and secure the damage for both the vehicles. Turtle mint provides a complete range of plans which provides comprehensive and third party coverage along with other coverages like zero depreciation, passenger insurance, etc.


Comprehensive coverage is covers the interests of the named insured. A third party insurance policy will not cover you. It only covers the interests of that named third party insured.


Third party insurance basically protecting yourself from the actions of another persons. It covers the damage you caused to a third party only - injury, death, and/or property damage caused to a third party in the event of an accident caused by the use of the vehicle.


It is called "Third Party Insurance Cover" and in most countries it is a legal REQUIREMENT to have this cover on ALL cars being driven on public roiads. It is normally sold to you as "Third Party, Fire and Theft" and covers for those 3 eventualities. The insurance that covers injury to YOU and YOUR car if you are at fault is called "Comprehensive Cover" - (this includes "Third Party, Fire and Theft" cover too).


Third party car insurance or third party liability is also referred to as the 'act only' cover. It is a mandatory cover under the Motor Vehicles Act to ensure that the driver has adequate insurance coverage to pay for the damages resulting from an accident. The first party over here is the driver of the car, the second party is the insurance company and the third party is any person (injured or who claims damage) involved in the accident. For More


Personal possessions are usually covered on your homeowners or renters insurance policies.


There are various types of car insurance, the one you choose depends absolutely on you. By law you are required to have a minimum kind of insurance meaning it is criminal to drive without an insurance cover. Be that as it may, the available cover vary with the cover they offer. Private Car Insurance policy cover is divided into three, from the highest to the least here they are:COMPREHENSIVE : this in is an all risk cover and it covers your vehicle and third party's vehicles against accident, theft, fire and other road risks also covers Third party injury, medical expenses etc.THIRD PARTY FIRE & THEFT: this a restricted cover, which covers injury to and damage to Third Party's car and covers own car against Fire and Theft alone.THIRD PARTY: this is the least kind of cover and by far the cheapest. It cover injury to and damage to Third Party car only.Therefore, take any of the above with respect to your budget and your car (my advise - expensive cars should be insured on Comprehensive basis).


Third Party Insurance is a Liability insurance purchased by the insured (first party) from an insurance company (second party) for protection against possible suits brought by another (third party).


There are mainly two types of auto insurance policies. One is Package insurance(comprehensive) which covers economical loss sustined by the owner of the vehicle, upto the extent of IDV(Insured's Declared Value) upon happening of accident. Second is Third party insurance which is compulsory by motor vehicle act, 1938 which covers lost sustined by others by way of bodily injury/death, property damage due to accident of your vehicle. Third Party losses are measured by court of law. If a person dies due to accident of your vehicle, the liability of compensation is upon the owner which is transferred on the shoulder of insurance company by way of insurance contract(Policy). In contract of insurance, first party is insurance company, second party is insured and all other than these two are third parties.



I think you are not covered. Third party insurance only covers you for damage to other peoples cars. If you have third party, fire and theft then you would be covered.


Only if this is specifically stated on your certificate, you are authorised by the vehicle owner, and generally is limited to third party cover only.


In India, this is mandatory for buying an insurance policy for a motorcycle for at least 5 years with a comprehensive plan.Two-wheeler insurance is of two types.1. Comprehensive two-wheeler insurance.2. Third-party two-wheeler insurance.In the Comprehensive two-wheeler insurance policy, it covers both owner and third-party accidental damages.In Third-party two-wheeler insurance, it will only cover third-party accidental damages.For more info vist us at gibl.in


yes you can take third party insurance cover for you & your car. where the premium is very less...which will not cover your car damage , fire & theft.


If you're over 25 and have comprehensive insurance, you're covered third party only on other cars, so it wont cover the damages of the car you were driving, but if there was a third party involved they're covered.


There are many things that are meant by the phrase compulsory third party. Typically, the phrase compulsory third party is referring to a type of insurance that is paid whenever one registers their vehicle in South Australia.


Third party liability means that if a driver is sued by a third party, his?æinsurance company can cover the driver for?ælosses. Insurance companies will also pay a driver?æup to $300 for medical expenses


NRMA covers a wide variety of insurance from home owners insurance to motorcycle insurance. They offer a comprehensive motorcylce insurance plan or you can opt for the third party motorcylce insurance plan.


There are many different types of insurance offered by AA Auto Insurance. This includes fully comprehensive insurance including legal cover, and third party only insurance.


when an insurance company(x) does not have particular coverage(ex:Earthquake coverage) then they would cover those coverages with the help of another insurance company(Y) by paying a certain percentage of premium to that company(third party carrier) and provides that coverage to their customers. Here Y becomes a third party carrier


Third party liability insurance is useful if you are blamed for having caused an accident and someone wishes to file a claim against you. With third party insurance you are insured for claims up to a predetermined amount.



Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.