For anyone owing, purchasing, and driving a car it is mandatory for them under the Motor Vehicles Act, 1988 to purchase the third-party car insurance policy. It protects the driver or car owner from any legal liability, financial loss, property damage, vehicular damage, medical expenses incurred in the event of a collision due to your vehicle.
Let’s know about benefits of third party car insurance cover.
1. The policy covers the insured driver’s legal liability in the vent of a collision causing death or injury to third party including loss or damage to their property. The insurance company takes care of the financial and legal aspects of the unfortunate incidence solely benefitting the third party.
2. It takes the stress away caused due to the mishap. Instead it lets you focus your energy to offer immediate relief and support to the injured.
3.This policy has proven to be monetarily beneficial to the insured in terms of premium and costs incurred. This is because evaluation of policy is done based on the income and repayment capacity of the holder. Thus, ensuring it does not cause financial burden on the insured.
4.The policy can be easily accessed, bought and renewed online from the official website of the lender. This helps to save your time. You get in touch directly with the insurance provider to understand the nitty gritty of the policy. You save yourself from having to pay intermediaries offering policy cover.
Read Also: Is It Worth Buying A Third Party Car Insurance Policy?
5.Being easily accessible online the policy coverage is easy to track. As a policy holder renew it, review it, upgrade it, make claims, make payments etc. from anywhere anytime.
Alisha Antil is your best financial helper for insurance. She has a vast experience in finance and insurance and provide to you the expert advise in insuring your property and health. She has in depth knowledge and has written more than 1200 blogs on topics related home and car insurance. She also provide you with knowledge about home improvement and cooking.