What is meaning of OD and TP?
A comprehensive insurance cover for a vehicle offers complete safety against the loss and damage to your vehicle i.e. own damage (OD) and other vehicles and properties i.e. third party liability (TP).
What TP means in insurance?
One such term is the last traded price or LTP. Most people confuse this with the closing price or the market price. But in reality, the last traded price or LTP is different from both the closing price and the market price.
What is difference between own damage and third party insurance?
TPL is compulsory vehicle insurance, which every vehicle owner is required by law to take out. TPL protects your business from this risk and covers the damage (personal injury or property). In addition to this, it ensures that the party(ies) holding your company liable will be helped quickly and efficiently.
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