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Third Party Insurance Online
Third-party car insurance is a basic motor insurance policy that every four-wheeler owner must have. It financially covers the insurance holder against any losses or damages caused to a third-party’s property or the person suffered physical injury or death. The Motor Vehicles Act, 1988, also mandates procuring third-party insurance at the time of purchasing a new vehicle.
Third-party four-wheeler insurances are affordable than the comprehensive four-wheeler insurances. For hassle-free and quick buying, you can check third-party car insurance online.
| Key Feature | Availability with Third Party Insurance |
|---|---|
| Property damage | Available |
| PA (Personal Accident Cover) | Available |
| Add-ons covers | Available |
| Purchasing Options | Available |
| Own Damage costs | Available |
Features and Benefits of Third-Party Car Insurance
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Comprehensive coverage
Get complete protection for the damages caused to a third party by your car due to an accident. Get paid for the injuries, death, and property damage caused to the third party.
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Get a safety net
Get a safety net against uncertain financial liabilities arising out of an accident.
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Easy claim settlement
Settle your claims easily with Bajaj Finance’s seamless service.
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Available online
Buy third-party car insurance online from the comfort of your home or office.
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Affordable Premium
Pay a fixed nominal premium to cover a huge financial liability.
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Optional Upgrades
Buy add-ons and upgrade your policy to include coverage for your car and personal accident cover for the owner-driver.
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Abide by the law
It is mandatory to buy third-party car insurance under the Motor Vehicles Act, 1988.
What is Third-Party insurance, and how does it work?
Third-party insurance is a type of motor insurance that offers a cover against any financial liabilities that might come into effect due to an accident while riding your vehicle. It has been made compulsory by the government of India as per the Motor Vehicles Insurance Act of 1988. In this insurance, the financial coverage is extended to the third party, whereas no coverage is provided to the rider/owner. Any property damage (to the third party), physical injury, or permanent third-party loss will be covered in third-party insurance.
No coverage is provided to the owner/rider in this insurance. Hence, if there is any damage to the policyholder's vehicle or injury sustained by the rider/owner, the insurer will not entertain that. If an accident results in injury/damage to a third party, all details need to be shared with the insurer. The insurer will then verify the case and settle the claims with the third party.
What is the importance of third-party insurance?
Here’s why a third-party four-wheeler insurance policy is important to buy.
- All car owners must have a third-party insurance
- A third-party four-wheeler insurance policy provides basic financial coverage to the policy-holder against third-party liability arising from causing damage or loss due to any untoward incident.
- Third-party insurances have lower premiums, making it a cost-effective policy.
- Ensures peace of mind, as you don’t have to worry about finances in case of an accident that involves third-party liability.
The process to claim Third Party insurance
The process to claim third-party insurance is straight-forward, you can follow the steps below:
- Step 1: Intimate the insurer you have met with an accident resulting in the third party's loss/damage/injury.
- Step 2: The insurer needs to be provided with information like the date and time of the accident, details of insurance and policyholders involved, description of injuries sustained, photographs of the incident, eyewitnesses, etc.
- Step 3: The insurer will assess all the documents and evidence to settle the claim with the third party accordingly.
Inclusions of Third-Party Car Insurance
Personal accident
This plan covers the treatment costs in case of any personal injury to the policyholder.
Accidental damage to third party property
A standalone Third-party car insurance policy gives you coverage against liabilities arising due to damages suffered by a third party. The policy provides coverage for property or vehicle damage to the third party involved during the accident.
Accidental injury to or death of a third party
A standalone Third-party car insurance policy gives you comprehensive coverage against any liabilities arising from death or injury to a third party. In case of a mishap leading to injury or death of a third party, four-wheeler third-party insurance also covers medical and hospital costs.
Exclusions of Third-Party Car Insurance
There are a few exclusions for third-party car insurance, like:
- Damages to your car or belongings in the accident or due to theft or fire.
- Any injury or death of the driver-owner of the insured car.
- The third-party damage caused when the driver was under the influence of drugs or alcohol.
- If the accident was deliberately performed or if the insured car was used for commercial purposes.
- If the driver was below 18 years or without a valid driving license or was driving on the wrong side of the road.
Why should you Buy Third-party Car Insurance
It is always beneficial to have a third-party car insurance policy in place in case of any unfortunate eventuality. Third-party Insurance provides an additional layer of protection to your existing Auto Insurance and covers unforeseen expenses in the future.
Financially beneficial:
Third-party Car Insurance will protect you from heavy fines and damage costs of a third party.
Cost-Effective:
Third-Party Car Insurance is cost-effective and provides long-term benefits compared to other plans.
License Protection:
Third-party Car Insurance safeguards against the seizure of a driving license.
Legal Protection:
Third-Party Car Insurance saves policyholders from time-consuming legal hassles.
Safety Net:
Third-Party Car Insurance provides a personal accident cover of up to 15 lakhs.
How to Buy Third-party Car Insurance Online?
Here are the steps to to apply for car insurance online:
- Step 1: Click the ‘Apply Now’ button at the top
- Step 2: Fill in the online application form with your personal details and click on the ‘Submit’ button
- Step 3: Make the fee payment online
- Step 4: If required opt for a call back from our representatives or complete the process by clicking on 'Buy Now'
Why Choose Bajaj Finance for Third-party Car Insurance
Bajaj Finance provides you best third-party Car Insurance options available today. We provide value for your hard-earned money and gift your peace of mind in times of turmoil. Bajaj Finance provides a comprehensive 3Rd Party Insurance plan that is affordable and efficient for the policyholders.
Affordable:
Affordable premiums and special discounts make the Bajaj Finance Third-Party Car Insurance a financially attractive policy.
Wide Network:
We have 8000+ network garages spread across India, providing hassle-free services to policyholders.
Happy Customers:
Crores of satisfied customers are a testimony to Bajaj Finance's commitment towards policyholders.
Online Policy:
In within a few minutes, with a click of a button, you can purchase a Bajaj Finance Online policy and be safe and secure.
No Documentation:
Bajaj Finance offers instant third-party Insurance without the hassle of time-consuming paperwork.
Financial Freedom:
Bajaj Finance provides policyholders with a personal accident cover up to 15 lakhs with the four-wheeler third-party insurance.
Frequently Asked Questions (FAQs) for Third-party Car Insurance
What documents are required to raise a third-party motor insurance claim?
Here are the documents you will need while raising a third-party insurance claim.
- You need to fill out a claim form and submit it to the insurer
- Provide a copy of an FIR registered by the police about the incident
- Submit insurance details/papers
- Give documents that provide proof of the cost incurred for any damages/losses
- Submit a surveyor report
Besides these, you will also need to provide a copy of your driving license, RC and any other documents specified by the insurer.
What does third party insurance mean?
Third-party insurance means safeguarding the financial interest of a third party in case of any damage or injury that may come upon them due to an unforeseen happening while you are driving.
Can I buy a zero depreciation add-on cover along with a third-party car insurance plan?
Usually, an add-on cover is offered on a standalone own-damage cover or comprehensive vehicle insurance. You can’t buy a zero depreciation add-on cover on a third-party car insurance plan. However, you can check with your insurer for any offerings while purchasing a plan.
From where can I purchase a third-party car insurance policy?
You can buy third-party insurance from multiple places, such as the car company from where you purchased your car, certified agents or reliable insurance companies or providers like Bajaj Finance. You can also look for third-party car insurance online to avail of one easily.
What is the duration of a third-party insurance policy?
The usual duration of third-party insurance is one year. You need to renew your policy every year before the due date. You can check for the grace period offered on the policy and likewise plan your repayment.
What if I am caught driving my car without a valid third-party car insurance plan?
The Motor Vehicle Act, 1988 mandates every vehicle owner to have a third-party insurance plan in place. It is illegal to drive a car without having a third-party car insurance plan. You will be legally complied to pay a fine of Rs. 2,000 or in some cases, may lead to imprisonment of three months.
Is it worth getting third party car insurance?
A third-party car insurance plan is a basic insurance plan that covers you legally against any third-party liabilities. However, this document is an important one to have. As per the Motor Vehicle Act, 1988, it is mandatory for all vehicle owners to buy third-party insurance to drive on the roads in India. This insurance plan provides you with financial security in case of any damages or losses caused to a third party (property or physical) during an accident involving your insured vehicle. Nonetheless, third-party insurance is cheaper than comprehensive motor insurance plans or standalone own-damage covers. Hence, it is worth buying one.
What does compulsory 3rd party car insurance cover?
Third-party car insurance is compulsory in India as specified in the Motor Vehicles Act 1988. The policy covers third-party damage to property or them in case of an accident.
What is deductible?
Deductible or Excess is the amount charged or deducted from the payable claim amount in Third Party Car Insurance.
It varies around Rs 500 for cars. It is calculated based on the carrying capacity of the car. Additional charges may be levied depending on the age of the vehicle and the frequency of claims.
Do I have to inform anyone if I install a CNG or LPG kit in my car?
Any Modification in the car can lead to a change or even cancellation of Third-Party Car Insurance. In case of installation of CNG or LPG kit, it is imperative to inform the Insurer Company and the Road Transport Authority (RTA). The company will communicate the change in premium. The RTA will make the changes to your registration certificate. If the change of Kit is not reflected on your registration certificate, any claim made after the change can be rejected.
What is the difference between Comprehensive and Third-Party Insurance?
Comprehensive Car Insurance covers damage caused to the insured vehicle as well as the injury/death or property damage of a third party. The maximum cap on this offer is 7.5 lakhs.
Third-party insurance offers compensation only for death/injury or property damage of the third party up to Rs. 7.5 lakhs.
Comprehensive Car Insurance has add-on options like depreciation cover, consumables cover, etc., which can be availed by paying an extra premium.
Third-Party Car Insurance has no add-ons.
Comprehensive plans offer extensive coverage but are expensive, with higher premium amounts. Third-Party Insurance offers specific coverage, and hence the premiums are more affordable.
What are the advantages of third party car insurance?
Lower premium, financial protection to the rider/owner in case of an accident and are advantages of third-party car insurance.
What is the disadvantage of third party insurance?
Third-party insurance is not liable to keep the rider/owner’s financial interest safe.
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