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Why the Need for Third Party Car Insurance?

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Why the Need for Third Party Car Insurance?

What does third party car insurance cover, what does it not cover, and why do you need it?  We typically purchase car insurance with the thought of saving a great deal of money if something happens to the car. Damage to an automobile is taken into account by comprehensive collision coverage. Then there are additional types of coverage which take into account injury, theft, etc.

Having car insurance is usually mandated, meaning you have no choice. But insurance is not mandated for the types of coverage given above. What is mandated is third party insurance. Third party insurance does not cover the car or the driver, but covers virtually everything else. Third party car insurance covers injuries any passengers in your car may receive. It also covers passengers in other cars, pedestrians, or anyone you have injured while driving your car. Third party car insurance also covers physical damage you may have caused, including damage to a car you have collided with, a fence you have driven through or knocked over, to give a few examples. Third party insurance is liability insurance, which is good coverage to have.

Third party coverage can account for a significant portion of the cost of the premiums you pay on your car insurance policy. The reason for this is that injury to passengers or other people, or damage caused when your car collides with something, often results in higher costs than when only you and your vehicle has sustained damage. If your driving results in injury to another person, you may well be faced with more than paying their medical bills. Claims for damage by a third party can far exceed the medical fees and hospital expenses involved when injuries sustained are permanent or critical in nature.

Keep in mind that when you purchase car insurance, the amount of third party coverage you choose may not cover the claims that are made against you. Mandatory third party car coverage is minimal coverage, the amount you must be covered for, and not necessarily the amount you will need to be covered in every instance. It’s important to be aware of this, because in some situations you might find it in your best interest to take out added coverage for additional protection. Be aware that if a successful claim against you exceeds the coverage stated in your policy, you will have to pay the difference, and that amount could be substantial.

We’re not here just to sell you car insurance, but to provide you with a policy that makes the most sense and fits your needs. You may wish to consider third party car insurance coverage that exceeds any mandated minimum. Our free quotes can help guide you in making the proper decision. Just click on our “Get a Quote” button to get started. There’s never any obligation.

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