Securing Hannav Ledger...
Securing Hannav Ledger...
Glossary
Third-party insurance covers legal liability for injury, death, or property damage caused to another person or their property by the insured vehicle, and is mandatory in India.
The legally required insurance that pays for damage you cause to others, not your own vehicle.
Premiums are regulated by IRDAI and standard across insurers for the same vehicle category; does not cover the insured’s own vehicle damage, which needs own-damage cover.
If an insured car damages another vehicle, third-party insurance pays for that repair, not the insured’s own car.
The legally required insurance that pays for damage you cause to others, not your own vehicle.
Third-Party Insurance helps you evaluate products, compare options, and make informed decisions aligned with goals, tax rules, and risk tolerance in the Indian financial system.