Third Party Insurance If you also drive a vehicle, then this advertisement will be very important for you, you must have ever heard about third party insurance, what is it, what are the benefits of getting it done, today we will discuss the detailed information with the help of this advertisement. Third party insurance is a vehicle insurance plan that indemnifies the insurance company against any damage caused by your vehicle to the vehicle or body or property of another person.

The insurance company also bears the cost of court proceedings etc. to determine the amount of compensation. Due to these features, this insurance is also called Third Party Liability. In case of third party insurance, the insurance company bears the burden of total 4 types of damages. Which are the 4 disadvantages that will be provided to you below.

Key Features of Third Party Car Insurance by Digit

Understanding Third-Party Insurance

If you also buy a vehicle, then it is mandatory for you to get third party insurance. As per the directions of the Supreme Court, it is mandatory to take Compulsory Personal Accidental Insurance of Rs 15 lakh along with any type of vehicle insurance. Whether you have taken third party insurance or comprehensive insurance, it is mandatory to have it with every type of policy. From the year 2018, it is mandatory for every vehicle to have third party insurance.

Insurance is given for 5 years on buying a new bike and 3 years on buying a car. In this insurance, the owner of the vehicle is not given any kind of cover. But in this insurance, if there is a road accident with your vehicle, then the person who gets injured during that accident is covered.

Benefits of Third-Party Insurance

• Third party insurance does not insure the vehicle owner. But this insurance proves to be very helpful in another way.
• Third party insurance provides protection against damages caused to third parties by the insured vehicle. It covers bodily injuries, damage to vehicle, damage to property and death.
• Third party insurance does not provide any compensation if the accident was due to drunken driving.
• In this insurance, financial loss due to vehicle accident can be avoided.
• Along with this, the expenses incurred in the hospital after the accident are also covered.
• It also covers the cost of legal work.
• All these claims are given by the insurance company.

If there is no third party insurance then how much fine will have to be paid

It will tell you how important it is to get third party insurance done, if you have a vehicle and you have not got third party insurance done for that vehicle, then you may have to pay a fine. Can be punished with jail. If you make this mistake again and again, then you can be given both these punishments together, so do not be negligent and get third party insurance done. On getting insurance, the company gives you the following compensation.

Compensation for damage to another person’s vehicle, compensation for damage to another person’s property, compensation for grievous bodily harm or death of another person, legal/court proceedings costs in determining compensation, etc.

Why is it important to have third party insurance?

If you get third party insurance done, then you must read this advertisement for what benefits you can get as well as how important it is to get it done. Due to this, you get compensation ranging from Rs 7.5 lakh to Rs 15 lakh in case of damage to your own body or loss of life. The amount of compensation will depend on the level of damage caused to your body. If you want to get compensation for the vehicle damage and your physical damage caused in the accident, then you should get comprehensive insurance. In which you will be fully compensated.

Vehicle insurance can also be done online

If you want to get third party insurance, then you can also do this insurance sitting at home, for this you will open the website of any general insurance company, then you will get the link to buy insurance online. With the help of which you can get insurance done. If you want to do offline, then you can get it done by the company through the office or insurance agent. Many people who work as agents while staying at home, you can get insurance done only with their help.