Third party insurance: Is compulsory under the motor

Third party insurance is compulsory under the motor vehicles Act,1988. As the third party insurance is mandatory so it cannot be overridden be any clause in the insurance policy. It is the duty of insurers to satisfy the judgments and awards against persons insured in respect of third party risks. Affordable Car Insurance Premium at ICICI Lombard. Personalized Plan with Add On Benefits. Get reliable car policy with 24x7 support & cover for damages & theft with zero paperwork. Third- party insurance is the most basic type of car insurance policy that every vehicle owner must have. It provides valuable financial and legal protection if your vehicle causes injury, death, or property damage to other individuals. Having a third- party policy ensures that you drive in peace and avoid potential fines and legal complications. While it excludes coverage for damages to you or your own vehicle, third party car insurance offers unlimited compensation in the event of a third ... Third-party insurance is an essential form of protection for individuals and businesses alike. It serves as a financial safety net, covering claims made against the insured by other parties, often referred to as third parties. This type of insurance is particularly relevant in today’s litigious society, where the potential for costly claims can pose a significant risk.