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What is Third-party Car Insurance?

Third-party car insurance is a type of insurance policy that specifically covers damages and injuries caused by your car to a third party. It ensures that those affected by your vehicle are taken care of, providing peace of mind in difficult situations. However, it does not provide coverage for damages to your own vehicle or injuries sustained by you.

One of the most important features of third-party motor insurance is that it is a legal requirement. This means it is mandatory to get a four wheeler third-party insurance to register and drive your vehicle legally. Not complying with this requirement can result in fines, penalties, and even severe legal consequences.

While this type of car insurance offers limited coverage, it plays a crucial role in protecting both drivers and third parties from the devastating financial implications of accidents. It ensures that individuals affected by the accident receive the fair compensation they deserve for their losses. This helps you avoid the burden of bearing the entire financial responsibility yourself.

Key Features of Third-party Car Insurance

Third-party car insurance is ideal if you're looking to meet legal requirements while ensuring financial protection in case of unexpected accidents. Some key features of 3rd party insurance include:

1. Low Premiums

One of the most significant features of third-party motor insurance is its affordability. Compared to comprehensive plans that offer coverage for damages to your own vehicle too, third-party insurance typically comes with lower premiums. This makes it an excellent option if you want to meet legal requirements without breaking the bank. This feature of third-party car insurance also makes it more accessible to a wider range of vehicle owners.

2. Liability Coverage

3rd party car insurance provides liability coverage for damages and injuries to third parties in accidents caused by your vehicle. It compensates these parties for various losses, including medical expenses, repair costs, and property damage. Third-party insurance helps you mitigate the financial burden of these expenses, protecting your assets and financial well-being.

3. Limited Coverage(CC)

Third-party car insurance provides only limited coverage for damages to third parties. This means it does not provide coverage for your own car or injuries sustained by you in an accident. This is an important feature to consider if you're comparing insurance options. If you're seeking a more robust plan, consider investing in a comprehensive policy instead as it offers broader coverage, including you, your vehicle, and any third party.

4. Legal Requirement

In India, third-party car insurance is not just a choice but a legal requirement for all vehicle owners. The Motor Vehicles Act, 1988, mandates every motor vehicle running on the roads to have at least third-party insurance. If you don't meet this legal requirement, you might be charged with penalties, fines, and even legal consequences.

5. Simple Application Process

Third-party car insurance has a simple application process. Unlike comprehensive policies that require detailed examinations and paperwork, 3rd party insurance typically requires minimal documentation and verification. This straightforward process makes it easier to get the required coverage without any hassle.

Why Do You Need Third-party Insurance?

By investing in third-party car insurance, you can enjoy benefits such as:

Legal Protection

Having third-party motor insurance is a legal requirement in India. Therefore, investing in this policy helps you ensure you're complying with the law and protects you from penalties, fines, and other legal consequences.

Peace of Mind

Knowing that you are financially covered in the event of an accident provides peace of mind when you're driving on the road. Third-party insurance eliminates the stress of potential liabilities that may arise from accidents, allowing you to focus on enjoying your driving experience without constantly worrying about the financial implications of unforeseen events.

Financial Assistance

Third-party motor insurance provides financial assistance to cover expenses for damages and injuries sustained by third parties in the event of an accident. Whether it's a medical expense, repair costs, or property damage, 3^rd party insurance ensures the affected parties receive fair compensation for their losses. This helps you mitigate the financial burden while fulfilling legal obligations.

Cost-effective

When it comes to car insurance, third-party motor vehicle insurance is often more cost-effective. This makes it a budget-friendly option for drivers looking to meet legal requirements without excessive expenses. Since third-party car insurance is more affordable, it can be ideal if you have a limited budget or an older vehicle.

Financial Security for Victims

Third-party car insurance provides financial security to individuals who may suffer injuries or property damage due to an accident where you are at fault. It ensures the victim receives prompt and fair compensation for medical treatment, vehicle repairs, or other losses, easing their financial burden.

Coverage for Property Damage

Third-party insurance covers damages caused to third-party property by your vehicle. This includes buildings, fences, or other infrastructure, ensuring you are not held liable for the repair or replacement costs.

Why Choose Future Generali for Third-party Car Insurance?

Future Generali’s third-party car insurance is affordable, convenient, and reliable, ensuring a seamless insurance experience. Here's how:

Quick and Easy Process

Future Generali offers a streamlined and user-friendly application process, making it easier for you to obtain third-party vehicle insurance without unnecessary delays or complications. Whether you wish to get insurance online or offline, the simple application process ensures a hassle-free experience.

Hassle-free Claims

In the event of an accident, the last thing you'd want is a lengthy and complicated claims process. Future Generali ensures prompt and efficient claims processing in such difficult times. This is why we offer a hassle-free claims settlement process with a dedicated support team. Whether it's medical expenses, property damage, or other liabilities, we guarantee timely assistance and support in times of need.

Low Premiums

Future Generali offers competitive premiums for third-party car insurance, making it an affordable option. Get the maximum value for money with budget-friendly premiums without compromising on the quality of coverage. With Future Generali's cost-effective third-party car insurance premiums, you can meet legal requirements comfortably while minimizing financial strain.

What is Covered By Future Generali Third-party Car Insurance Policy?

Future Generali's third-party car insurance provides coverage for the following situations:

• Legal liabilities arising from accidents caused by the insured vehicle.

• Compensation for injury or death of any person, except those employed by the insured.

• Compensation for damage to third-party property.

• Driver authorized by the insured, as long as they follow the policy terms.

• If the insured passes away, their personal representative will be compensated as outlined in the policy.

• The company may provide representation at inquiries or defend legal proceedings related to covered events.

When you buy third-party car insurance from Future Generali, your policy does not cover the following:

• Any accident outside the geographical area.

• Any damage to/by a person driving the vehicle without a valid license.

• Any damage to/by a person driving the vehicle under the influence of drugs or liquor.

How Does a Third-Party Car Insurance Policy Work?

If you're in an accident, the third party involved can file a claim against your insurance policy to seek compensation for their losses. For this, they need to submit evidence of the damages or injuries sustained, such as medical bills, repair estimates, or witness statements, to the insurance company. The insurance company will assess the claim to determine the extent of liability based on the policy terms. Once the claim is approved, the insurance company will provide financial compensation to the third party to cover their losses. This compensation can include payment for medical expenses or property damage up to the limits specified in the policy.

Benefits of Third-party Car Insurance

Third-party car insurance offers several benefits such as:

• Legal Compliance

In India, it is mandatory to have third-party vehicle insurance to register and drive your vehicle. By getting third-party insurance, you can fulfill your legal obligations and avoid potential penalties or legal consequences.

• Financial Protection

Third-party insurance provides financial protection against liabilities arising from accidents. In such situations, the insurance company takes the financial responsibility for compensating third parties, including pedestrians, other drivers, passengers, or property owners, for damages and injuries sustained by them. This protects you from bearing the full financial burden of compensation payments, allowing you to safeguard your assets and financial well-being.

• Protection Against Uninsured Drivers

Third-party motor vehicle insurance also protects you against uninsured or underinsured drivers. In case of an accident where the other party is at fault and does not have adequate insurance coverage, your 3rd party insurance policy can provide compensation for your damages and injuries. This ensures that you are not left in a financial strain due to the negligence or lack of insurance of other drivers.

• Risk Management

Third-party insurance contributes to risk management by spreading the financial risk of potential accidents across a large pool of policyholders. The premiums paid by policyholders are collectively used to fund compensation for third-party liabilities. This helps distribute the financial impact of accidents among different drivers.

Factors to Consider Before You Buy Third-party Car Insurance Online in India

Before purchasing third-party car insurance online in India, it's essential to consider the following factors:

Coverage Limitation

Understand the coverage limitations of third-party car insurance. While it provides essential liability coverage for damages and injuries to third parties, it does not cover damages to your own vehicle or injuries sustained by you.
Legal Requirements

In India, third-party car insurance is a legal requirement for vehicle registration and operation on public roads. Check the specific coverage limits mandated by law and ensure your policy meets or exceeds these requirements to avoid penalties or legal consequences.
Premium Costs

While third-party car insurance typically offers lower premiums compared to comprehensive insurance, the rates may vary among insurers. So, carefully compare premium costs from different insurance providers to find a policy that fits your budget.
Reputation of the Insurer

Research the online reputation of insurance providers before making a purchase. Look for reviews, ratings, and testimonials from existing customers to gauge their reliability, responsiveness, and overall service quality.
Claim Settlement Process

Evaluate the claim settlement process of the insurance provider to ensure a smooth and hassle-free experience in case of accidents. Opt for an insurer known for prompt and fair claims processing to avoid unnecessary delays or disputes.
Customer Support

Assess the quality of customer support offered by the insurer. Efficient and knowledgeable customer support can address your queries, assist with policy-related issues, and provide assistance during emergencies or claims.

How are Third-party Insurance Premium Rates Calculated?

Third-party car insurance premium rates depend on factors like:

• The type of vehicle

• Zone of registration

• Age of the car

• Anti-theft devices

• Voluntary deductibles

• No Claim Bonus (NCB)

The Insurance Regulatory Development Authority of India also proposes the minimum premium rates for third-party car insurance.

For petrol/diesel cars, the insurance premium is as follows:

Engine Cubic Capacity	1 year single premium (Rs.)	3-year single premium (Rs.)
Up to 1,000 CC	2,094	6,521
Between 1,000 and 1,500 CC	3,416	10,640
More than 1,500 CC	7,897	24,596

For electric cars, the insurance premium is as follows:

Engine Cubic Capacity	1 year single premium (Rs.)	3-year single premium (Rs.)
Up to 30 KW	1,780	5,543
Between 30 KW and 65 KW	2,904	9,044
More than 65 KW	6,712	20,907

How to Buy/Renew
Third-party Car Insurance Online?

To buy/renew your third-party car insurance online with Future Generali, follow these steps:

1
Simply provide us a few details

Registration number, car model and year of manufacture.
2
Review the quote

Select a quote that suits you and fill our proposal form.
3
Pay and get your policy

Now pay the premium and get your policy in your inbox!

How to Claim for a Third-party Car Insurance?

To make a cashless claim for third-party car insurance, follow these steps:

1

Inform us about the accident online or call us on 1800 220 233.
2

A surveyor will inspect your vehicle.
3

Submit the required documents to the surveyor.
4

The approved claim amount will be communicated to the workshop.
5

Future Generali will directly settle the payment with the workshop.

To make a reimbursement claim for third-party car insurance, follow these steps:

1

Inform us about the accident online or call us on 1800 220 233.
2

A surveyor will inspect your vehicle.
3

Submit the required documents to the surveyor.
4

Make the payment to the workshop directly and submit the bills along with the payment receipt to the surveyor or your nearest FG Branch.
5

We will reimburse the amount in 7 working days from the date of submission of final documents.

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Third-party Car Insurance FAQs

What is third-party car insurance?

Third-party car insurance is a type of insurance policy that provides coverage for damages and injuries caused to third parties due to an accident.

How does third-party car insurance differ from comprehensive car insurance?

Third-party car insurance covers damages and injuries to third parties only. Comprehensive insurance, on the other hand, provides coverage for damages to your own vehicle and injuries sustained by you along with third-party coverage.

Is third-party car insurance mandatory in India?

Yes, third-party car insurance is mandatory in India to register your vehicle and operate it on public roads.

What does third-party car insurance cover?

Third-party car insurance covers liabilities arising from accidents, including compensation for bodily injury, death, or property damage to third parties involved in the accident.

What is not covered by third-party car insurance?

Third-party car insurance does not cover damages to your own vehicle or injuries sustained by you. It also excludes intentional acts, driving under the influence, and other specific exclusions mentioned in the policy.

Can I buy third-party car insurance online?

Yes, you can buy third-party car insurance online from Future Generali. All you need to do is follow these 4 simple steps:

Visit Future Generali's official website.
Provide details like your car's registration number, make and model, year of manufacture, and claim details.
Select suitable add-on covers that suit you and fill out the proposal form.
Pay the premium and complete your video KYC. You will receive your policy documents in your inbox.

How are premiums for third-party car insurance calculated?

Premiums for third-party car insurance are calculated based on factors such as the vehicle's make and model, engine capacity, geographical location, claims history, and the guidelines prescribed by the IRDAI.

What happens if I don't have third-party car insurance?

Driving without third-party car insurance is illegal in India and can result in penalties, fines, and legal consequences. Additionally, you may be personally liable for compensating third parties for damages and injuries in case of accidents.

Can I add additional coverage to my third-party car policy?

No, third-party car insurance policies do not have the option to add additional coverage. However, you can purchase separate insurance policies for additional coverage, such as comprehensive insurance or add-on covers.

How can I file a claim for my third-party car insurance policy?

To file a claim under your third-party insurance policy, you need to contact your insurance provider and provide details of the accident, along with relevant documentation such as a police report, medical bills, and repair estimates. The insurance company will assess the claim and process it accordingly.

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Future Generali's third-party covers the legal liabilities incur while driving.

What is Third-party Car Insurance?

Why Do You Need Third-party Insurance?