What Is Third-party Insurance?
Third party insurance will only cover you for accidental damage that you caused to another party. No claims for damage or theft to the insured person’s automobile will be paid out. This is the cheapest form of cover as there is less chance for a claim with third party insurance policy.
Although the protection provider will pay for the damage to the third party’s vehicle, the insured person will be liable for the excess that is stated in the schedule of the policy.
Third party protection is not comprehensive, but it can save you from a financial disaster if you are involved in an accident.