What Should I Go for, Third Party or Comprehensive Car Insurance?
There are basically two types of motor insurance plans namely third party car insurance plan and the comprehensive car insurance plan. The first one is mandatory for all motor vehicles plying on the India roads as per the Motor Vehicles Act 1988 and the latter one is an optional cover which you can choose as per your wish. Comprehensive car insurance is a bit costlier than the mandatory third party legal liability only cover. Which One Should You Go For? See, the liability only car insurance has been developed to protect an insured person against the third party legal liabilities arising out of any third party injury, death or property damage. The main beneficiary of a third party car insurance policy is a third party not the owner of the policy. It is important to remember here that the third party car insurance will not offer any coverage if in case your own vehicle suffers any damage or loss from an accident or any similar incident. But, the comprehensive car ...
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