Why You Should Have Third Party Car Insurance Plans

While purchasing a car, three things come along with it- Happiness, Safety and Insurance. From which the latter is the claim that you need to make as early as possible. Even the car sellers know it and that is why even they offer the forms for you to buy car insurance online plan India along with the forms of purchase and retail.

The Third Party Insurance

While passing through different processes of insurance you need to ensure that the third party insurance is covered first.   Third party insurance is a liability cover which is a mandatory requirement according to the Motor Act. This kind of insurance is also known as the ‘act only’ cover where the beneficiary is a third party i.e., someone apart from the already involved parties – the owner and the insurance company. 

What is it?

A third party can be a close relative or a friend or parents or siblings, anyone. This definite claim of third party cover is compulsory and hence the non-life insurance companies have to provide the owners with this claim anyhow. Along with your vehicle registration, the providers are definitely going to give you the third party insurance to  compare car insurance online plan India.

Importance

1.  This cover is an additional cover which surely protects the owner when the motor vehicle is stolen or is damaged badly. The compensation of the damage with this scheme is decided upon the earning ability or extent of the victim and not on some government rules set up for the books!

2. It covers the injury that has occurred not only to the victim or the owner but even it extends to the passengers of the motor. 

3. If the business that you have is of transport which involves handling of a large amount of vehicles then this claim is way too advantageous for you.

4. You can be financially protected to any liable damage to another’s property as a result of the accident occurred.

5. All the amount involved is settled by your insurance company and you personally need not have the trouble of roaming around the corridors of the court with your own money to pay for the damages.

Looking through all these points it’s clear that you should buy car insurance online plan India only when the time is right and if the company is ready with the third party insurance claim as well.