Car insurance plays a vital role in safeguarding your vehicles and avoiding unforeseen liabilities in case of accidents. One never knows when they may meet with an accident.
The Motor Vehicles Act of 1988 makes third party car insurance mandatory for all car owners. A third party car insurance will protect you from unwanted expenses in unforeseen situations. It is a protective policy that safeguards the car owner against legal or accidental liabilities, financial loss, property damage, and medical expense cover in case of a third party’s injury or even death. In simple words, it protects the owners against third party claims.
Third party car insurance is, in fact, one of the most sought-after insurance given its many benefits. Let’s understand some of the crucial advantages you can reap from buying a third party car insurance policy.
Why Opt for Third Party Car Insurance?
1. Peace of Mind
Unforeseen accidents can often burn a big hole in your pockets. A third party car assurance saves you from this. It ensures that you deal with these demanding circumstances without worrying about incurring expenses, allowing you to focus on how you can get immediate relief from the stress.
2. Financial Aid & Legal Cover
Dealing with accidents involving severe injuries or the death of a third person can take a toll on you – mentally and financially. Furthermore, it can land you in legal trouble, especially if you (the first party) cannot pay for the losses of the third party. Buying third party car insurance protects you from worrying about legal troubles and heavy expenses. So, tomorrow if you are taken to court by a third party for an accident, the insurer will take care of your legal expenses. Although you may not be the direct beneficiary, it is an essential policy to buy since the resulting costs can be pretty high.
3. Easily Accessible
Third party insurances are easy to access. Furthermore, the process of renewing them is pretty simple. You can buy or renew them online from the comfort of your home, making them accessible from anywhere and at any hour.
4. Long-Term Policy
Unlike some policies that may need renewal every year, you can buy third party car insurance for three or five years if the car is newly purchased. As a result, you do not need to worry about yearly renewals or missing renewal dates.
5. Cost-Effective
Buying third party insurance is not as expensive as you may imagine. You can buy it at pocket-friendly prices and ensure your and your family’s psychological and financial safety.
6. Easy to Claim
Since this car insurance is accessible online from any location at any time, you can quickly check the status of your policy. Furthermore, it is easy to claim, given everything is digital.
7. Availability
A third party car insurance can be brought by people from all walks of life for any vehicle, no matter how small or big. So irrespective of what you own, you can always be safe and assured.
Wrapping Up
Your third party car insurance is just like your knight in shining armor in an unforeseen car situation. Since it is mandatory by the government, it is always better to buy one. And even if it wasn’t, it’s wise to get coverage against potential losses you might incur.