5 Benefits of Third Party Insurance: As per a report, there are over 30 crore vehicles registered in India, but only 50 percent of them are insured. Insurance is a must have thing for your vehicle. If you ignore renewing your insurance policy, you may face high penalties in future. Here, in this article, we will inform you about 5 benefits of having a third party insurance. Check out more details below.
Third party insurance is a comprehensive type of insurance which provides financial protection to the vehicle owner in an event of a road accident in which owners himself injures or cause any damage to third party. Check out major benefits of having a third party insurance below.
Financial Security
One of the major benefits of having a third party insurance is it provides financial security against any legal liabilities that may arise due to an accident happened by your vehicle. Several insurance companies include compensation for bodily injuries, property damage, and death of a third party in the policy.
Legal Coverage:
Another benefit of owning a third party insurance policy for your vehicle is that it covers all the egal costs incurred in defending yourself against any legal cases filed by the third party due to the accident.
Peace of Mind:
Third party insurance provides peace of mind by covering you financially from all type possible mishaps on the go.
Wider Coverage:
Third-party vehicle insurance covers a wide range of unfortunate events that can take place with you on road. They include accidents involving pedestrians, other vehicles, and property.
Low Premiums
Several Insurance companies offer third-party vehicle insurance on low and affordable premium when compared to other types of insurance. So, opting for a third party insurance policy is a good choice.
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