What Is Third Party Car Insurance: Insurance made to compensate for the damage caused to the third party during a car accident is called third party car insurance. Under the Motor Vehicle Act, it is mandatory for every car owner to take this insurance so that in future, if his car causes damage to any other person, vehicle or goods, then that car owner can compensate the loss from the amount of insurance.
When can I claim third party car insurance?
If the car causes damage to any property, damages any other vehicle, injures any person or creature, causes disability or death, all of them are covered under third-party insurance. Is covered and can claim this sum assured to compensate for all these.
How to claim third party insurance if two insured cars collide with each other?
If two insured cars collide with each other, then in that situation both the car owners will compensate for the loss from the amount of their car insurance or will demand the amount of third party insurance of the car with which their car collided, it will be decided by the court. will be taken. Only on the basis of the evaluation of the court, it will be decided whose fault it is. The aggrieved party can claim the amount of third party insurance of the owner of the car whose fault is there.
Can I avail two car insurance at the same time?
If your car meets with an accident caused by another car, then on the direction of the court, the damage caused to your car will be compensated by the other party. But if that amount falls short for car repairing, then in such a situation you cannot claim the insurance of your car. For one incident, you can claim only one car insurance i.e. either the amount of third party insurance received from the person who caused damage to your car or the amount of insurance on your own car.
How much amount can be claimed under third party insurance?
According to IRDAI guidelines, if your car causes damage to any property, you can claim a maximum of Rs 7.5 lakh under third party insurance. At the same time, no limit has been fixed in the case of death.
How to claim third party insurance?
Step-1: If you or any of your relatives have been harmed due to a car, then first of all register an FIR with the police.
Step-2: Register the case in the Motor Accident Claims Tribunal.
Step-3: After hearing both the parties in the tribunal, the court decides the amount of damages which the accident victim will have to pay. However, under the guidelines of IRDAI, only a maximum of Rs 5 lakh can be claimed for insurance. Therefore, if the amount fixed by the court is more than seven and a half lakh rupees, then the court will also decide which party will bear the remaining amount from its own pocket.
By the way, third party insurance is enough to compensate for the damage caused by the accident with your car. But in order to compensate for the damage caused to your car in that accident, it is necessary that you choose a comprehensive insurance policy in which the damage to your car along with the third party is also compensated.