For car insurance, what is "third party insurance" mean?
By dancing_kwin08 •
As i am going to renew my car's registration at the end of this month, can somebody explain what a "third party insurance" is all about? Thanking you in advance.
As i am going to renew my car's registration at the end of this month, can somebody explain what a "third party insurance" is all about? Thanking you in advance.
All answers are Correct !
the answers you got are the right ones
in 2 car accident, if any member die who will pay compensation money? insurence company?
I totally agree with above mentioned both answers...
Lolz
Third Party Insurance means that only the third party involved in the accident (or calamity) is insured. Assuming you are driving your own car that is insured under third party, and you happen to knock into another car, it means that your insurance will pay for the cost of damages for the other car. However, the cost of repair for YOUR car will be borne by you.
Hope this advice helps...
Your car is party no. 1. You are party no. 2. If you hit somebody it's party no. 3. This damage will be paid by the insurance (if you weren't drunk, or had a proper license, and if your car was properly registered).