What Does The Third-party Liability Plan Cover? The nature of hazards can be varied and financial fallouts can prove to be expensive not to mention the inconvenience that one has to bear in the absence of a necessary vehicle. It is always advisable to opt for comprehensive packages since it is impossible to tell what kind of events can lead to losses. The company offers ‘third-party liability only’ covers as well as comprehensive packages. Cars, being an expensive asset, can be the subject of situations that give rise to unpredictable financial setbacks. Subject to provisions, passengers and paid employees are also included in the scope of the contract. It is a form of personal insurance, usually included in the product portfolio of general insurance companies that aims to safeguard the financial interests of motorists with insurable interest in automobiles used for private purposes. Own-damage policies are optional but by availing a comprehensive policy one can ensure all-round protection.It is also more economical to have an all-in-one package than having separate indemnity contracts.
As mandated by law, all vehicles plying on Indian roads have to have third-party insurance. It is required by all those who intend to drive in the country. The following kinds of insurance are offered to customers: Fire, Health, Motor, Marine, Industrial, Liability, Credit, and Micro Insurance. The company also boasts one of the most diversified product portfolios with solutions that provide coverage for assets ranging from livestock to satellites. It has an extensive reach with 1,340 offices servicing clients in urban, semi-urban and rural areas. Ltd., formed in 1938 and nationalised in 1972, is one of India’s oldest insurance companies.
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