Advantages And Disadvantages Of Third Party Car Insurance

What is Third Party Insurance Coverage in Car Insurance?
An auto insurance or vehicle insurance is vital if you own a car, it is mandatory to ensure the safety of your own car and the passengers in it. But during any unlikely situation, if your car causes any damage or loss to another person or property then you will have to be liable for the same. That is when a third party insurance coverage is required for your car, so as to insure others also.
Third Party Car Insurance
In any circumstance, your vehicle collides with another causing injury to the passengers in it or any other damage to property then third party car insurance will provide the necessary cover. The person involved in the accident or the third party (anyone other than the car owner and the insurance …show more content…
• Third party insurance is mandatory and all insurance companies are obliged to provide this cover to the insured.
• Monthly premium is very less and is affordable.
Disadvantages of third party car insurance
• Keep in mind that the third party car insurance will not provide you the complete protection that a comprehensive car insurance promises
• A fully comprehensive car insurance is much cheaper and provides more protection than third party car insurance.
• The insured and his/her vehicle will not be covered, if you suffer any injury or damage during the accident that was completely your fault.
• Third party car insurance also does not provide any compensation, if the vehicle is stolen, set on fire or destroyed in the street.
There is also another category under car insurance called Third Party Fire and Theft insurance (TPFT insurance), where your car will be covered if there is a fire or if it goes stolen, damage to car lock or even a stolen car stereo. Now, having seen the merits and demerits of third party car insurance, you may decide which type of insurance works best for your