Third-party Liability Insurance
This is the most basic and legally required mandatory car insurance policy you must take for your four wheeler. When you buy a third party car insurance, your insurance company takes care of all legal obligations that could arise due to an accident by you causing bodily injury or property damage to a third party. Your insurer will compensate for the financial losses you incur due to your accident that could be death, injury, disability, or damage to third-party’s life and property. Key Benefits include:
- You don’t have to pay for the damages caused for your involvement in an accident. Your expenses would be taken care of by the insurance company when you experience damage, death or disability.
- Covers the repair/replacement cost of the damaged property (or third-party)
- Covers the medical bills of the third party due to hospitalization or medical treatment
- The liability coverage will include the third-party injury, death or damage to the third party property.
Uninsured Motorist Protection
This is a type of insurance that comes handy if you are hit by another vehicle and the at-fault driver doesn’t have car insurance to cover your repair damages or injury. Typically, any repair or medical bills should be covered by the at-fault driver’s auto insurance. An uninsured motorist protection policy covers you against such expenses.
- In some cases, the third party's insurance coverage is not sufficient enough to meet your needs.
- You can include the additional rider such as uninsured or underinsured protection so that you can minimize your exposure.
- The insurance company will pay the additional or total amount so that you will overcome the damage or medical bills very easily.
Personal Injury Insurance
This cover protects the owner-driver and the passengers in case of an accident. The medical bills and hospitalization charges are all covered by the insurance, not considering whose fault it was. It is compulsory to take third-party car insurance, which covers expenses to be paid to third-party. But what about the medical expenses you yourself have to incur? This policy covers all medical expenses of drivers as well as passengers.
- Personal injury protection will cover all the costs associated with the accident.
- The medical bills of the driver and other passengers will be covered by the personal injury protection.
This covers your vehicle only in the case of an accident, which includes repair expenses to your vehicle. Unlike a comprehensive cover, this only covers the vehicle in case of a collision and not in any other circumstance.
- The collision cover should be subscribed as per the age of your vehicle. If you are buying an insurance company for a brand new vehicle, you should ensure that the collision coverage is included.