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What is Third Party Liability coverage in car insurance?

Publish Date: 26 Oct 2021

Finance101

What is Third Party Liability coverage in car insurance?

More details about the Car Insurance!

To be able to take out an insurance policy on your car to safeguard against any accident that may occur such as theft or fire or a traffic accident is normal, but to be able to take out an insurance policy on a third party who may be involved in a car accident with you, now that is unusual, and it is exactly what third party liability in car insurance is. Third Party Liability in car insurance is considered one of the most important terms when it comes to car insurance policies.

 

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What is Third Party Liability exactly?

 

It is the minimum legally required coverage that you must acquire so that you may drive your car without legal issues. This type of insurance offers insurance coverage for a person (other than the policy owner) who may be injured while driving and covers the passengers in your car in case of traffic accidents for example.

 

Why should you opt for Third Party Liability coverage?

 

This type of insurance is very suitable for those who have high risk occupations that may be hazardous to those around them.

 

 This type of insurance offers insurance coverage for a person (other than the policy owner)

 

Third Party Liability Premium:

 

The monthly or yearly premium is usually much less than the regular car insurance premium since it targets those whose driving poses a high risk to others. 

 

What does Third Party Liability cover?

 

  1. Injury to a third party such as a passenger or someone in another car involved in the same traffic accident.
  2. Fire or accidental damage to another car that was caused by the policy owner.
  3. Loss or damage caused by the policy owner other than to a car, for example colliding with a store front or a wall.

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