MOTOR-THIRD-PARTY-INSURANCE-POLICY

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Motor Third Party Insurance Policy

This is the mandatory cover required by law for any vehicle to ply in India. It covers the legal liability due to the below instances due to an Accident: 

Loss of life of a Third party

Personal Injury to a Third Party

Damage to property owned by a Third Party

This cover excludes damage to the customer’s vehicle. The premiums are as regulated by IRDA and there are no discounts applicable. The premium depends on the cubic capacity of the vehicle.

Full premium must be paid in advance before the commencement of coverage. There are no continuity or renewal benefits for this type of Policy. 
 

  • Features
  • The beneficiary of this insurance is the affected third party and compensation will be as awarded by the court of law. 
  • There is unlimited coverage to Third party loss of life & Third party property damage.
  • The coverage for Third party property damage is limited to Rs.7.5 Lacs.
  • Policies are available on Annual & Long term (3 Year).