What is basic tp premium

The basic premium for TP cover depends on the Engine capacity or cubic capacity of the car. The more the cubic capacity, the higher is the premium. While the total premium paid is the **sum of basic premium and the amount for personal accident cover** for owner/driver*.

What is basic TP?

Third party insurance is a compulsory motor insurance policy to be taken by the motor vehicle owner/driver before driving the vehicle in public places. Third party insurance covers the bodily injury or third party property damage caused due to the involvement of the insured vehicle.

What does TP mean in car insurance?

TP in car insurance is the Third party insurance which covers the loss or damage to the third parties caused due to an insured vehicle. Third party insurance is also known as Liability only insurance or Act only insurance.

What does no TP mean in car insurance?

TP is Theft Protection: This covers if the vehicle you are renting if stolen. LI - Liability. This protects you for damage to other cars and/or people. You for sure need to pay for Liability coverage. CDW/TP can waived if your credit card provides such coverage.

What is TP cover?

While the OD part provides coverage for any damage caused to the insured vehicle, the TP part covers the policyholder's legal liability arising due to damages inflicted to a third party individual or property due to his/her negligence driving.