We all make mistakes, don’t we? So, it’s okay that sometimes your vehicle might be involved in an accident. You may be broken-hearted about your vehicle, but this is exactly why you have a motor insurance policy, isn’t it? Your insurance will have your back in such situations and protect you against any losses.
Whether you were the one causing the damage or someone else damaged your vehicle, this is when your third-party insurance will come into play. Also called a liability insurance, this is an insurance cover that protects you against any liabilities that may happen due to any loss or damage you may cause to a third-party vehicle, person or property.
According to the Motor Vehicles Act, it is mandatory to have this third-party insurance in India. Without it, you might end up paying a heavy fine! 🙁
However, since you need to have this coverage, you might be wondering what exactly happens when you end up in a bad situation and you have to make a claim. Well, first of all, we hope that doesn’t happen to you, but if you still want to stay informed, read on to find out more.