Let’s start by understanding, what is third party car insurance plan ? As per Motor Vehicles Act 1988 this is the minimum insurance cover which somebody should have so that one can own a right to drive any kind of car on Indian roads. on adherence to the same can call for serious legal action by appropriate legal authority. Any point of time if one is caught by traffic police without having at least a third party cover can definitely ask the person to pay fine against the same. This is all legal but to understand the real essence of why somebody needs a third party car insurance lies in the essence of the benefits attached to it. Going by the definition, a third party car insurance plan to suppose to offer financial protection to the car owner to manage legal liabilities arising out of any injury, death or property damage to any third party which happened because of acts associated with the car in consideration.
A Third party car insurance Can help the car owner settle all expenses of a third party be it legal or medical or any other form of compensation which involves immediate money outflow on the part of the car owner because of damages happened in an event where the insured car in consideration is involved. Thus it is a win-win situation for the car owner as well the third person involved. But to understand the case better let’s try to break the benefits associated with third party car insurance based upon the possible financial claims which an aggrieved party can raise against the insured car owner involved:
Now to wrap up all these though emergency can’t be predicted in advance but with effective financial protection at through a third party car insurance cover can take care of lot of bad possibilities .But one thing that needs to be kept in mind that third party car insurance don’t cover the damages happening of the car in consideration and for which a comprehensive cover always need to be looked into.