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In India, it is mandatory to have at least 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 His property damage up to 7.5 lakh. In nutshell, TP 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
ICICI Lombard Third-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 7.5 lakh. Third-party car insurance protects the owner-driver and provides legal cover to the motor vehicle.
2. Easy and very simple process to buy third-party car insurance
ICICI Lombards Third-party car insurance policies are very easy to access and very easy to buy and renew. Anyone who has sound knowledge of the internet can buy or renew a policy online. The process is very simple and quick as well. Therefore, it is easily be availed by anyone at their convenience and time.
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, etc.
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.
Unnamed passenger cover- As an owner of a car, you are responsible to pay for injuries that may come to your passenger. Third-party car insurance provides compensation for passengers up from 50k to 2 lacs per person.
Owner driver cover- The owner-driver cover is also known as a personal accident cover is only for the owner-driver. It is covered up to the amount of Rs 15,00,000.
Paid driver cover- Amt of Rs 50 has to be paid as an add-on for buying paid driver cover. In Paid Driver Cover, the insurer pays compensation to the driver in case of death or injury. The compensation depends upon the age, monthly income, and dependants of the driver.
IDV is the maximum amount that the insurer will pay in the event of an unfortunate event involving the policyholder. Know more about IDV.
Just renew your coverage before it expires.
Zero depreciation does not cover mechanical breakdowns, oil changes, or consumables. Read more about other ICICI Lombard car insurance add-on covers.
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.
Comprehensive insurance covers losses up to the IDV value.