Third Party Insurance

Third Party Insurance
Third Car Party insurance comes in the category of general insurance. Third party insurance protects a third party.

It is mandatory and you must buy it for the protection of the third party’s injury and liability claims.

Although, there is no escape from CTP Green Slip protection, you can however choose from a variety of insurance products, as almost all the car insurers will provide you with this kind of protection along with other plans, taking comprehensive coverage for instance. So, in this kind of insurance, if you cause someone injury while driving, the insurance is going to cover the injury of the person(s). However, your third party insurance will not provide you any assistance in the damage you did to someone’s property.

It will cover the people with you on the road who are victims of the accident; likewise, the pedestrians hit by you, the people in your vehicle and the people who were injured because of your trailer.

A multitude of lenders offer third party insurance and it is highly recommended to check with each insurer before you make a final choice to buy. Bear in mind that pricing varies among the insurers and you choose any single one depending upon your own situation. For example, third party insurance premium fees are described by a group of features comprising of your driving and accident proof, the age of the person who are going to drive your car, the kind of the vehicle you have with its age, the usage of your vehicle (private use versus business use) and whether the purchase will be a renewal or new. The best choice will depend on your situation of driving versus the kind of insurance they provide.

A great way to get a low costing third party insurance is to call some of the insurers/ insurance agents dealing in third party car insurance in your area and take first hand info, inquiring about the cost. You should realize that your driving habits also matter. Finally, read all the terms and conditions before validation.

Read more about what is life insurance?

This entry was posted in Types of Insurance. Bookmark the permalink.

Leave a Reply