𝗧𝘄𝗼 𝘄𝗵𝗲𝗲𝗹𝗲𝗿 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲

      

1. Third-Party Insurance

This insurance policy is mandatory by the government under the Motor Vehicles Act, 1988.

How does it work?

If your vehicle causes injury to someone, results in someone's death, or damages another vehicle/property, the third-party insurance covers the compensation.

It does not cover damages to your own vehicle or theft.

Example:

If your car accidentally hits a bike and the bike gets damaged, the insurance company will compensate the bike owner. However, you will have to bear the repair cost of your own car.

Suitable for:

Those who own old vehicles and want to pay a lower premium.

Those who only want to fulfill the legal requirement.

2. Comprehensive Car Insurance

This insurance provides coverage for both third-party damages and damages to your own car.

How does it work?

It covers damage due to accidents, theft, natural disasters (like floods or earthquakes), fire, riots, or any other unforeseen events.

It provides protection to both you and the third party.

Example:

If your car is involved in an accident and both your car and the other vehicle are damaged, the insurance company can cover the expenses for both.

Suitable for:

Those who own new or expensive vehicles.

Those who want complete protection for their car.

Key Difference:

Third-Party Insurance: Only covers damages caused to others.

Comprehensive Insurance: Covers damages to both others and your own vehicle.

Conclusion

If you have a limited budget and only want to fulfill the legal requirement, third-party insurance is the better option. 

But if you want to protect your own vehicle as well, then comprehensive insurance is more beneficial.

CONTACT ON WHATSUP