policy is that it offers the most basic coverage a policy can offer. As the name suggests, this policy will cover an insured car’s owner against third party liabilities. These may occur when the insured car causes damage or injuries to the third-party property or person. If the driver of an insured car is at fault, the insurer needs to bear the cost of loss suffered by the third party.
A Third-party Car Insurance Policy also covers the owner-driver for treating injuries caused to himself/herself. It is called a Personal Accident Cover. Buying this is also mandatory by law. Now that you know the meaning of a Third-party Car insurance policy, let’s see how to buy it online.
Before people started using the Internet on a large scale, the only way of buying insurance was through offline mediums. These included buying insurance through an insurance agent or by personally visiting the insurance company. However, it is now possible to get your car insured within minutes.
To buy third-party insurance online, visit your preferred insurer’s website and select the type of car insurance policy you want to buy. As said earlier, a Third-party car insurance policy offers only basic coverage. To buy enhanced coverage, go for a Comprehensive Car insurance policy. Along with third-party coverage, this policy also offers coverage for own damage, theft, natural calamities, human-made calamities, etc. Plus, you can buy Add-ons, i.e., additional coverages with a comprehensive policy.
After selecting the type of policy and Add-on, set the Insured Declared Value of your car and proceed towards making the payment. As soon as the payment is made, your insurer will send a soft copy of the insurance policy through email. You can download this policy document and use the print out as required. You can buy third-party insurance online, in a similar manner.
Inclusions are situations in which the policyholder can file a claim against his/her car insurance policy. On the other hand, Exclusions are situations in which one cannot file a claim against the car insurance policy.
- Damage caused to third-party property.
- Injuries caused to the third party due to an insured vehicle.
- Legal liabilities arising due to an accident with the third party
- Treatment for injuries caused to the owner-driver
- Damage to the insured car
- Theft of the insured car
- Damages are caused due to natural calamities like floods, earthquakes, etc.
- Damages are caused due to human-made calamities, riots, vandalism, etc.
By law, it is compulsory to buy at least a Third-party Car Insurance Policy. It enables the third party to continue availing treatments for injuries or compensation for property damage.