What is first and third party insurance?
A third party in an insurance policy can be anyone. To specify, it can be any individual or property that gets affected by the first party's vehicle. Coverage. First-party insurance covers the damages or losses caused to the policyholder or his/her vehicle, along with third-party liabilities.
What is third party insurance in India?
Third-party insurance, which is also sometimes referred to as 'act-only' insurance is a statutory requirement for all vehicle owners as per the Motor Vehicle Act. It is a type of insurance cover where the insurer offers protection against damage to the third-party vehicle, personal property and physical injury.
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- what is difference between first party and third party insurance in hindi
- 1st party insurance vs 3rd party in hindi
- difference between 1st party & 3rd party insurance