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      • 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.
      www.iffcotokio.co.in › motor-insurance › what-is-third-party-insurance-cover-and-how-it-works

      What is Third-Party Insurance Cover and How it Works

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  3. www.policygenius.com › auto-insurance › third-partyWhat Is Third-Party Car Insurance & How Does It Work ...

    Jul 8, 2022 · Key takeaways. Third-party insurance is also called liability coverage, and can be used to describe a policy's bodily injury and property damage coverage. If you're hurt in a car accident by another driver, their third-party insurance pays for the costs of your injuries and property damage.

  4. www.iffcotokio.co.in › motor-insurance › what-isWhat is Third-Party Insurance Cover and How it Works

    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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  6. www.usnews.com › insurance › glossaryWhat Is Third-Party Insurance? | U.S. News

    Feb 15, 2024 · Updated: Feb. 15, 2024. ...more. Third-party insurance is a type of insurance where one party (the insured) pays premiums to an insurance company (the second...

  7. www.fool.com › what-is-third-party-auto-insuranceWhat Is Third-Party Auto Insurance? - The Motley Fool

    Dec 7, 2023 · Third-party insurance covers people and property damage dealt to third parties; it does not cover damage done to policyholders or their vehicles. Costs vary...

  8. www.compare.com › resources › third-party-insuranceWhat You Need to Know About Third-Party Car Insurance

    Dec 21, 2022 · Auto insurance is one of the most common types of third-party insurance, where a person purchases a policy from their insurance company to protect them against claims from a third party. In this guide, we’ll cover how third-party car insurance works and how much coverage you need.

  9. www.financestrategists.com › third-party-insuranceThird-Party Insurance | Definition, How It Works, Pros, and Cons

    Jul 12, 2023 · Third-party insurance is a type of insurance that provides coverage for damages or injuries caused by the policyholder to someone else. This type of insurance is typically required by law in many jurisdictions, and is designed to protect both the policyholder and the injured party in the event of an accident.

  10. assurance.com › auto-insurance › what-is-third-partyWhat Is Third-Party Coverage? - Assurance IQ

    Oct 13, 2023 · How Does Third-Party Insurance Work? This insurance policy covers damages that you cause to others. When you (first party) hit someone’s car (third party) and are at fault, your insurance pays for repairs or replacement. Your liability insurance would pay for medical bills as well. Eligibility

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