covers your car against risks like theft, accident, explosion etc.
Car insurance is mandatory in India. Car insurance cover is meant to be inclusive of many aspects associated with protecting the interests of the car owner as well as the general public, against the risks associated with driving on the road. When you buy car insurance, it would also include third party liability in your insurance cover. Cheap car insurance becomes an even more attractive proposition, considering the fact that third party liability is very much an integral part of your insurance policy.
Insurance cover is a contract between the Insured and the insurer, where the insured is one party, the Insurer is the second, and anyone else who may be injured in a possible Accident is the third party. Coverages in car insurance that include third party liability should typically provide insurance cover for anyone who may be injured apart from the insured, which could be a pedestrian on the road, a passenger or driver of another vehicle, or even a passenger who may accompany the insured in the same vehicle.
The first thing you need to know is, with third party liability, your car insurance cover manages your Risk when it comes to protecting your interests against damages to the rest of the world through your actions. In effect, you are insuring others who may be affected by your actions, protecting your interests against any liability that you may end up with.
Should third party liability be called into question, your insurance Policy would ensure that the liability is directly reimbursed to the third party. Thus, you would not have to be worried about the details that go into the execution of coverages in car insurance, as the entire process would be handled smoothly – all you need to do is to fetch for yourself cheap car insurance.
When you buy car insurance, your insurance Premium would depend on a whole range of factors. However, your premiums would not change with third party liability – and the simple reason is that you do not get insurance cover against any particular damage but against all kinds of Legal Liability that may arise out of damage incurred by third party. With third party liability, your cheap car insurance remains just that – cheap and inexpensive.
Car insurance may include third party liability. However, the fact remains that any Reimbursement does not arise spontaneously following an accident. It requires to be proved that the insured was at fault and that any injury sustained by the third party resulted from faulty behavior of the insured, for there to be any reimbursement to the injured.
It is evident from the discussion that third party liability is an intrinsic part of car insurance and that your quest for cheap car insurance does not have to involve compromises in terms of higher rates of premium, since premium does not vary with third party liability in car insurance cover.