Every alternate day we get to know about road accidents or a car hitting the other causing death or disability. Although, Indian govt. has made mandatory amendments for having third-party insurance to cover third-party related cases, very few register for the same consciously or a majority of people are unaware of best third party insurance plans available in the market. Some have very less clarity about how to go through the process of claiming insurance in the event of being hit by others car. Hereby, in this article, we are briefing the term and certain related facts about the third-party insurance in India.
Usually, a car insurance policy comprises of two varied covers. One takes care of the damages to the vehicle or car owner/paid driver if any, and is popularly known as ‘Own Damage Cover’ or ‘Comprehensive Car Insurance’. While the other covers others legal liability insured owing to accidental death or injury or property damage caused by the policyholder or car owner. As Motor Vehicle Act 1988 indicates, a person can file a third-party insurance claim in the event of an accident. There are certain facts revolve around the liability insurance, here you can check: 5 Related Facts: Check If You Unaware
How much does it cost? One of the exciting things about third party motor insurance is that it is affordable. For instance, if you purchase an own damage car insurance which covers damages to your car with the third party, you’ll end up paying between INR 10,000-12,000. In the other hand, if you only buy third-party insurance, it will cost around 1,000 maximum. Again, since the act only policy is obligatory by the law, you won’t find the price varying from one insurer to other. More or less it is same and less as compared to the comprehensive plan. Third-party Insurance Claim Process Firstly, the victim needs to file a claim for third-party liability against the car/bike owner, the property owner or the legal herald of the deceased. Secondly, a FIR is required with the details mentioning about
Next step is to register the case with the Motor Accident Claims Tribunal. The case will be preceded under the jurisdiction of the area where the incident happened or the petitioner resides. You should be very careful about the documents required at the time of filing a claim. All that you require is:
The limit for third-party cover has not been defined In case of an accident leading to an injury or death, the limit of the cover in third-party has not been indicated. The insurer will compensate the full amount to be paid as decided by the court
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