What is third party Insurance cover? - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
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Thursday, December 08, 2016

What is third party Insurance cover?

The third party cover is unlimited in the case of an accident and the entire compensation will have to be paid by the insurer.

In case of damage to property, the claim amount can be a maximum of RS. 7.5 lakh.

Moreover, litigation related to the claim amount can go on for years in courts.

An analysis done by IRDA (INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY) on the claim development pattern of goods vehicles & passenger vehicles shows that it takes 8 years for 99% of the claims to be filed.

What is third party Insurance cover? Reviewed by S. Chitra on December 08, 2016 Rating: 5 The third party cover is unlimited in the case of an accident and the entire compensation will have to be paid by the insurer. In case ...

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