When you plan to buy a car, you also need to start planning how to insure it. This is because every car that is driven in India needs to be insured. You need to know what the different insurance plans offer and which type of motor insurance would suit your requirements. There are namely two types of vehicle insurance plans available in India – third party car insurance policies and the comprehensive policies. In this article, we talk about the third party plans and how they can help you. Take a look.
As the name suggests, a third party plan offers compensation for all third-party damages. While a third party car insurance plan doesn’t cover your vehicle, it has some very important risk covers for you too. You can get the following crucial covers in a third party plan:
- Third party injury: When you drive your car on the roads, accidents happen at times. Sometimes they happen for no fault of your own and sometimes they happen because of an error of judgment. In any case, if you happen to hurt a third party, you will have to compensate him or her for the physical injuries incurred. You have to pay for their medical expenses. This can be pretty taxing, but if you buy third party car insurance online, you can stay protected against this. your insurance provider will pay the compensation on your behalf and you don’t have to worry about draining your own savings in the process.
- Third party property damage: Similarly, if in an accident, you end up damaging a third party vehicle or any other property, you will be responsible to pay for the damages. This can also be quite expensive but your cover will take care of it. In fact, this is one of the most common uses of third party car insurance. You can get compensated if you get hit by another car and vice-versa.
- Legal compensation: Next, you get the all-important legal benefit in a third party plan. At times, road accidents take ugly turns and a third party drags you to court. You then need to hire a lawyer and pay your way through the legal battle to ensure you win the case. Such a process is very expensive and you need an insurer’s help. Thankfully, the third party car insurance online plans have provisions for this and pay your legal bills so that you can fight the case in court. This is highly beneficial for sure.
- Personal accident cover: You need a personal accident cover when you drive a vehicle on the roads. Road accidents are a reality and you never know what trouble waits for you around the corner. You, therefore, need to protect not just the vehicles, but your life too. A personal accident cover in third-party car insurance does just that. You are assured of getting a sum assured if you get disabled after an accident. You will get the compensation that can act as an income replacement. If you happen to die in an accident, your family members will get a death benefit. This is a crucial and extremely helpful cover that a third party car insurance policy provides.
As you can clearly see from the points mentioned above, a third party car insurance policy is very helpful indeed. It is a very affordable type of insurance too. So everyone can buy this plan. You should get such a cover not just because it is cheap, but also because it is legally compulsory for you to do so. So go online, run a comparison of the available options and see what the best alternatives are. Once that is done, buy the cover and also renew it on time. This will help you to stay insured in an uninterrupted manner.