According to the Motor Vehicle Act, it has become mandatory for the owner of a car to have car insurance before the car comes onto the Indian roads. This policy of car insurance includes insurance cover of the third party insurance.
The third party motor insurance policy covers property and body damage of the third party involved during the due course of an accident. This car insurance policy has been made binding when purchasing a car. The claim can only be made if the driver itself is at fault during the accident.
However, if the owner also wants additional insurance for themselves, they will have to look for the Comprehensive Car Insurance Policy. This is when the owner wants to buy car insurance that will benefit both owner and the third party claims. This kind of car insurance is the most popular among vehicle owners in India.
The comprehensive car insurance policy gives a well rounded insurance coverage, not only to the owner but also to the people that may be around the vehicle in question at that very time. This car insurance policy spreads a wide net of options for the owner to take and add into the already binding law that the Motor Vehicle Law states.
The third party car insurance would only insure the people on the road around you with the punitive damages being paid by the insurance company. However, the Comprehensive Car Insurance Policy would give well rounded coverage to the owner as well as the third party irrespective of the liability, legal or otherwise. The liability covered with this car insurance policy is unlimited in the case of property damage or even death.
Thus, when going in for a policy, this motor insurance policy that will give one, full coverage in the case of any mishap and that is why one might find it the most popular.
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