In India, there is no clear explanation as to whether third-party car insurance is worthwhile. On the one hand, having this type of insurance can provide peace of mind in an accident.
In addition, it can also help you protect your assets if you are found liable for damages in a crash. Of course, whether or not to purchase this type of third party car insurance online will depend on your specific needs and budget. However, Bajaj Finance’s third-party car insurance can provide you with total peace of mind.
What is the difference between comprehensive and third-party insurance?
Comprehensive insurance covers the damages to your vehicle in the event of an accident, irrespective of who is at fault.
Third-party insurance only covers damages caused to others in an accident, not to your car. This type of insurance is mandatory in India.
How to buy third-party car insurance online?
To buy third party car insurance online, you will need to provide basic information about yourself and your vehicle. This includes the make and model of your car, its age, and the ID proof of the policyholder.
Bajaj Finance offers instant online quotes for third-party car insurance, so you can compare rates and choose the best policy for you.
Things to take care of while choosing third party insurance for your car
Third-party insurance for cars is a legal requirement in India. However, just because it is compulsory does not mean that you should blindly purchase the first policy you come across.
1) The cover offered
Check what the policy covers and what it does not. For example, some policies might only cover the damage to third-party vehicles and property in an accident, while others might also cover the damage to your car.
2) The premium
Compare the premiums of different policies to find the best deal.
3) The deductible
The deductible is the amount you will have to pay out of pocket before the insurance policy kicks in. Make sure you are comfortable with the amount.
4) The insurer
Not all insurers offer third-party car insurance. So make sure to compare the offerings of different insurers before deciding.
5) The claim process
Please read up on the claim process and make sure you are comfortable with it.
6) The exclusions
Read the policy carefully to see what is not covered. For example, some policies might not cover damages caused by natural disasters or accidents that occur while you are driving under the influence of alcohol or drugs.
Features of Third-Party Car Insurance
If you are thinking of purchasing a third-party car insurance policy, it is essential to understand the included features. Here are six crucial elements of this type of policy:
1. Coverage for property damage:
This type of policy will cover damages you cause to someone else’s property in an accident. This could include damage to another car, a building, or even someone’s property.
2. Coverage for injuries:
If you injure someone in an accident, this policy will cover their medical expenses. It will also provide compensation for any wages they may lose due to the injury.
3. Coverage for legal defence:
If you are sued due to an accident, this policy will provide you with a legal defence.
4. Coverage for towing and storage:
If your car is damaged in an accident and needs to be towed, this policy will cover the costs. It will also cover the costs of storing your car while it is being repaired.
5. Coverage for rental cars:
If your car is being repaired after an accident, this policy will provide you with a rental car. This can help minimise the disruption to your life caused by accident.
Reasons why third party insurance is important
Third-party insurance is essential for several reasons. Here are seven key reasons why you should consider purchasing this type of coverage:
1) to protect yourself and your passengers in the event of an accident
2) to protect your assets if you are found liable for damages in a crash
3) to cover the costs associated with injuries or property damage caused to others in an accident
4) to cover the costs associated with defending yourself in a legal liability case
5) to provide you with peace of mind
6) to comply with the law
7) to protect your future insurability
Reasons to choose Bajaj Finance for third-party car insurance
Comprehensive cover for all losses suffered from an accident, including death, bodily injury, and property damage.
Coverage for both personal and commercial vehicles
Bajaj Finance offers third-party car insurance for both personal and commercial vehicles.
Bajaj Finance’s third-party car insurance is one of the most affordable markets.
Wide range of cover options
They offer a wide range of cover options, so you can choose the policy that best suits your needs.
24×7 customer service
They offer 24×7 customer service, so you can get help whenever needed.
Third party car insurance online is an important policy to have in place. It will protect you and your passengers in the event of an accident, and it will also protect your assets if you are found liable for damages.