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In India, it is mandatory to have a third-party car insurance cover. A third-party insurance policy is the most basic and feasible option which offers compensation in case of injury/death of a third party and property damage up to ₹7,50,000. In a nutshell, third-party insurance covers damages and injuries caused by the insured vehicle to the third person or third person's property.
1. Provides legal cover as well as financial assistance
Bajaj Allianzthird-party car insurance provides legal liability support in case of death or disability to a third person. It also provides coverage for any loss or damage to the third person's property up to ₹7,50,000. Third-party car insurance protects the owner-driver and provides legal cover to the motor vehicle.
2. Easy and very simple process for buy third-party car insurance
Bajaj Allianzthird-party car insurance policies are very easy to purchase and renew. Anyone who has sound knowledge of the internet can do this online.
3. Unlimited cover to the third party
In case of an accident that causes bodily injuries or loss of life, the third person cover is unlimited. The amount of compensation is borne by the insurance company once the court decides on the amount. The compensation amount depends on the age of the driver, his age, and a few other factors.
Property damage- If your vehicle caused some damage to the property of the third party in an unfortunate accident, then third-party car insurance ensures that the insurance company will pay for the damages to the third person.
Death- In some situations, if you are involved in an accident, which causes the death of a third party, the insurer takes care of this matter. In such situations, the claims are settled as per the court tribunals. The compensation is decided upon earning capability of the third party, his age, no of dependents, etc.
Bodily injuries- Medical coverage is offered for all types of bodily injuries, no matter how intense the injuries of a third party.
IDV stands for Insured Declared Value. In simple terms, it is the market value of your car. IDV is the maximum amount that the insurer will pay in the event of an unfortunate event involving the policyholder. Know more about IDV.
No, comprehensive car insurance is not mandatory in India. However, it is always advised to purchase comprehensive car insurance.
Zero depreciation does not cover mechanical breakdowns, oil changes, or consumables. Read more about Bajaj Allianz car insurance add-on covers and related benefits.
Third-party premium rates are calculated by the vehicle's cubic capacity. Annually, the government releases fixed third-party insurance rates for each cubic-capacity slab.
Yes. The addition of an LPG/CNG kit to your vehicle is a significant alteration, and the insurer must be informed of this as soon as possible.