What does third-party car insurance cover?
In the event of an accident, third-party car insurance does not cover any damages or losses to your own vehicle. Therefore, you will have to pay for any replacements and repairs on your own car. However, if the accident is not your fault, you can claim against the person who caused the accident.
Many people who can’t afford comprehensive car insurance opt for this type of cover. It is the cheapest type of car insurance you can get. It’s a basic and more affordable type of cover. However, it is important to note that this very cheap car insurance will only cover you for accidental damage that you cause to another party. So, if you have an accident, the insurer will cover the third party’s vehicle and you will be liable for the excess that is stated in your policy. Any damages or losses to your own car will not be covered.
Who is the third party?
You are the first party (the insured), your insurance company is the second party and the person whose vehicle has been damaged as a result of your action - and who puts in an insurance claim against you- is the third party.
Is third party insurance the right option for you?
Third-party car cover is best suited for someone who has:
- Aa low-value or older car
- Does not travel a lot
- Can’t afford to pay high insurance premiums.
It’s a lot cheaper than comprehensive protection, but it’s still worth comparing your options and costs, especially if you are constantly on the road and have a high-value car.
If you cause an accident, a court or judgment will find you liable for the third party’s property, so having third party protection is always better than having no cover at all. If you would like more information regarding cheap car insurance options, fill in our contact form and we will contact you and help you get the best car insurance deal.
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