Third-party premium based on engine capacity (CC)
✅ Up to 75cc: ₹576/year (Including GST)
✅ 75cc - 150cc: ₹784/year (Including GST)
✅ 150cc - 350cc: ₹1,553/year (Including GST)
✅ Above 350cc: ₹3,250/year (Including GST)
Coverage of third-party insurance
Third-party property damage
Coverage is provided for damage to third-party property (such as vehicles, houses, or other assets) in the event of an accident.
Third-party injury or death
In the event of an accident where a third party is injured or killed, the policy covers medical expenses or compensation for the affected individual.
Legal protection
Protection is provided against legal liabilities when a third party is affected by an accident, meaning that if you are legally responsible for the incident, the insurance company will assume the liability.
Benefits of third-party insurance
Provides coverage for third-party property damage.
Covers liability for third-party injury or death.
Provides legal protection in case of an accident.
Cost-effective and easy to maintain.
Why is third-party insurance mandatory?
Third-party insurance has been made mandatory primarily for road safety and legal protection. It regulates the driver’s liability and ensures compensation for damages caused to others in an accident.
Third-party protection
Third-party insurance provides protection against bodily injury or property damage to other individuals (such as pedestrians, passengers, or other vehicle drivers) in the event of any accident while driving.
Reducing financial burden.
In the event of an accident, the car owner or driver may have to pay a significant amount in compensation. Third-party insurance protects the driver from this financial burden and ensures that the affected individual receives compensation.
Legal obligation
Legal obligation: In many countries, including India, third-party insurance is mandatory under motor vehicle laws. This protects the driver from penalties for legal violations and helps avoid legal troubles.
Societal safety
Third-party insurance ensures overall societal safety and protection. It allows individuals or parties affected by accidents to receive prompt and easy compensation, safeguarding them from personal financial crises.