How to File Third Party Motor Insurance Claim?

by kumar rahul Best Insurance Deals

Third-party insurance is basically a specific sort of insurance policy that has been designed to provide with insurance cover to the third party in the event of an accident caused by the vehicle insured. The third-party motor insurance policy covers the liability arising out of damage, injury, or death of the third party, resulting from an accident in which the insured vehicle is at fault.

The Third Party Motor Insurance The policy is a legal requirement as per the Motor Vehicles Act, 1988. It’s important to note here that, the major beneficiary under a third party vehicle insurance policy is neither the insured vehicle owner nor the insurance the company, but the affected third party. The Insurance Regulatory and Development Authority of India (IRDAI) calculates the damages as per the rules.

The procedure for filing a third-party motor insurance claim is slightly different from the Own Damage (OD) claim. Take a look at the below-mentioned steps to understand it better:

Step 1- Application

The injured party or the lawful representative of the deceased can make an application against the vehicle and owner for third-party liability compensation.

Step 2- Lodge an FIR (First Information Report)

File an FIR with the police immediately after the application is completed and provides with the required details to support your claim. Don’t forget to have a copy of the FIR as well as the original records of the expenditures incurred by the injured party

Step 3- Approach the Motor Accidents Claims Tribunal

After successfully filling the FIR, the next step is to register the case with Motor Accidents Claims Tribunal

Step 4- Get the Cover Amount

There is no pre-decided boundary for claiming third party insurance. The insurance company offers compensation with the full amount decided by the court in its final judgment. Nevertheless, IRDAI limits the cover for third party property damage up to 7.5 lakh.

Note: The police complaint report must contain the following information: