Third party insurance

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According to the motor act 1991, every vehicle plying on the Indian roads should have the third person liability cover. By the third party liability cover, it means that the prime beneficiary of the third party is neither the original insured or the insurance company but a third party. It means that the insurance company will bear the financial cost arising from any accident to the third party due to any accident happened by the owner which has resulted in the death or any other impairment, serious injury etc to the third party.

Features Of a Third Party Car Insurance

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  • Death or bodily injury to the third party
  • Damage to the property of the third party
  • Death or injury to the owner or the vehicle
  • Permanent disability suffered by the owner of the vehicle or the driver.
  • The policy holder, insured or the third party are the beneficiary of this policy but the owner and insured are just nominal beneficiary. The amount is directly paid to the beneficiary which the the third party of it solicitor.
  • Injuries to the insured are not covered in this plan. It only covers the injuries don to the third party by the owner of the vehicle.
3rd-party-insurance

With an option to buy this policy, it is a very easy process, quick and hassle free which depends entirely on your time and convenience.

Benefits and Importance Of Third Part Insurance

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Offers legal covers and financial assistance

It secures the owner or the driver of the insured vehicle from legal procedures and also from the additional costs that might due to any damages or injuries caused to the third party himself or the third party vehicle. Though the beneficiary is neither the insurance company nor the owner, it is indeed helpful in giving the legal security that the person needs in case of any circumstances involving a legal procedure.

Easy, seamless and quick

This policy is very easy to buy and quick to renew. You can now buy or renew this policy online with much a fuss and get the claims without much issues

Cost effective and beneficial to the owner

This policy is highly rewarding and beneficial for the owner of this policy because it saves him from a lot trouble involving legal procedures in case of any damage caused by the policy holder in case there have been any accidents.

You can buy third party liability insurance for any vehicle that you have be a private car, two wheeler, or any commercial vehicle. There shall be different inclusions and exclusions for different kinds of the vehicle that you are investing in for.

However, we know that there are other cover too which is called the comprehensive cover which has several advantages along with the third party liability.

Let us understand the difference between the two with the help of a table.

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S. No. Category Description of Vehicle Class Premiums w.e.f. April 1, 2018 (in Rs.)
1 Private Cars*
Less than 1000 CC 1,850.00
More than 1000CC but less than 1500CC 2,863.00
More than 1500CC 7,890.00
2 Two Wheelers
Less than 75CC 427.00
More than 75CC but less than 150CC 720.00
More than 150CC but less than 350CC 985.00
More than 350CC 2,323.00
3 A1 Public Carrier Vehicles that Carry Goods (other than 3-wheelers)
GVW less than 7500 Kgs 14,390.00
More than 7500 Kgs but less than 12000 Kgs 21,511.00
More than 12000 Kgs but less than 20000 Kgs 31,608.00
More than 20000 Kgs but less than 40000 Kgs 34,591.00
More than 40000 Kgs 36,120.00
4 A2 Private Carrier Vehicles that Carry Goods (other than 3-wheelers)
GVW less than 7500 Kgs 7,938.00
More than 7500 Kgs but less than 12000 Kgs 14,330.00
More than 12000 Kgs but less than 20000 Kgs 9,871.00
More than 20000 Kgs but less than 40000 Kgs 14,805.00
More than 40000 Kgs 23,317.00
5 A3 Public Carriers Vehicles Carrying Motorised 3-wheelers and Motorised Pedal Cycles
Other than E-carts 5,680.00
E-Carts 3,969.00
6 A4 Private Carriers Vehicles Carrying Motorised 3-wheelers and Motorised Pedal Cycles
Other than E-carts 4,200.00
E-Carts 3,438.00
7 B Trailers
Agricultural Tractors up to 6 HP 714.00
Vehicles that include Special and Miscellaneous Type of Vehicles (Class-C) 1,830.00
8 D Special Types of Vehicles
(i) Agricultural Tractors controlled by Pedestrian with 6 HP, Plane Loaders and Hearses 1.256.00
(ii) Other Special and miscellaneous types of vehicles 5,351.00
9 E Motor Trade (Road Transit Risks)
(i) Distance not more that 2400 kms 1,088.00
(ii) Distance more than 2400 kms 1,308.00
10 F Motor Trade (Road Risks) (Excludes Motorised 2-wheelers) (Trade Certificate or Named Driver)
1st Name certificate or driver 1,108.00
For additional certificates/drivers up to 5 (per certificate/driver) 536.00
For additional certificates/drivers more than 5 but less than 10 (per certificate/driver) 345.00
For additional certificates/drivers more than 10 but less than 15 (per certificate/driver) 299.00
11 F Motor Trade (Road Risks) (Motorised 2-wheelers) (Trade Certificate or Named Driver)
1st Name certificate or driver 530.00
For each additional certificate/driver 264.00
12 C1a 4-wheelers used to carry passengers for reward or hire with a capacity of maximum 6 passengers Basic TP Premium (A) Premium (per licensed passenger) (B)#
Less than 1000CC 6,396.00 1,230.00
More than 1000CC but less than 1500CC 8,408.00 1,035.00
More than 1500CC 11,144.00 1,183.00
13 C1b 3-wheeler used to carry passengers for reward or hire with a capacity of maximum 6 passengers
E-rickshaw 2,426.00 1,161.00
Vehicles other than E-rickshaw 1,575.00 753.00
More than 1500CC 11,144.00 1,183.00
14 C2 Motorised 3-wheeler passenger vehicles used to carry passengers for reward or hire with a capacity of more than 6 passengers but less than 17 passengers 13,584.00 830.00
15 C3 Motorised 3-wheeler passenger vehicles used to carry passengers for reward or hire with a capacity of more than 6 passengers but less than 17 passengers 5,817.00 1,161.00
16 C2 3-wheeler passenger vehicle used to carry passengers for reward or hire with a capacity of more than 17 passengers 12,189.00 745.00
17 C4 Motorised 2-wheelers used to carry passengers for reward and hire
Not more than 75CC 790.00 532.00
More than 75CC but less than 150CC 790.00 532.00
More than 150CC but less than 350CC 790.00 532.00
More than 350CC 2,261.00 532.00

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