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Bajaj Allianz Third Party Car Insurance
Third party insurance is a constitutional obligation for every car owner of India. It helps to provide a safety net to the policyholders in an unforeseen event and protects them from financial disability. It offers coverage against the losses incurred to the third party through the insured’s vehicle.
Under the third party car insurance policy offered by Bajaj Allianz, the policyholder will get compensation for the bodily injuries and accidental death of the third party. These expenses can result in developing a pocket hole and disbalance the savings of a common man. Therefore, it is always better to be ready before the problem arrives by opting for this plan.
Bajaj Allianz Third Party Car Insurance Vs Bajaj Allianz Comprehensive Car Insurance
This insurance plan is not mandatory, however, it is the most recommended one due to the comprehensive coverage offered under this plan.
The following table highlights key differences between third party car insurance and comprehensive car insurance plans:
Third Party Car Insurance
Comprehensive Car Insurance
A third party car insurance plan offers coverage towards any third party liabilities incurred including property damage, disability, demise or bodily injuries of the third party due to a mishap or accident. It offers legal and financial assistance to the policyholder in case of emergencies.
A comprehensive car insurance plan offers coverage to the policyholder against both third party liabilities as well as own damages incurred due to an accident. . It offers legal and financial assistance to the policyholder in case of emergencies.
A policyholder cannot choose add-on covers along with a third party insurance plan as this insurance cover provides limited coverage.
A policyholder can include add-on covers to their comprehensive car insurance plan. Some of the commonly chosen add-on covers are zero depreciation, engine protection, etc.
|Nature of Requirement||It is mandatory for every car owner to at least hold a third party insurance plan while driving their car.||This insurance plan is not mandatory, however, it is the most recommended one due to the comprehensive coverage offered under this plan.|
It is an affordable and cheapest plan due to the nature of insurance coverage offered.
A comprehensive plan is expensive in comparison to a third party policy because of the extensive coverage offered.
What All Is Covered Under Bajaj Allianz Third Party Car Insurance Plan?
To know all that is included under a Bajaj Allianz third party car insurance plan, take a look below:
- Any bodily injury or death to a third party person due to an accident with the insured car.
- Any damages or losses incurred by a third party vehicle due to the fault of the insured car.
- A third party insurance plan helps the policyholder in complying with the legal provisions. According to the Indian Motor Tariff Act, it is compulsory for every car owner to hold at least a third party car insurance plan in order to legally drive their vehicle on public roads in India.
What All Is Not Covered Under Bajaj Allianz Third Party Car Insurance Plan?
The exclusions under third party car insurance policy offered by Bajaj Allianz are the following:
- In case of theft or destruction.
- Damage caused to the insured’s car.
- Injury caused to the policyholder during an accident
Key Benefits of Buying Bajaj Allianz Third Party Car Insurance Plan
Benefits of purchasing Bajaj Allianz car insurance policy are as follows:
- Financial Assistance and Legal Coverage: A third party car insurance plan offers coverage against legal liabilities incurred by the policyholder due to demise or disability to any third party. Moreover, it also offers security against damages or losses incurred by third party property.
- Peace of Mind: These kinds of car insurance plans provide the policyholder with much required peace of mind during the time of any financial emergency. The policyholder is provided with compensation by the insurance company in times of financial stress, which helps them in coping with the unforeseen event and prevent them from being stressed.
- Affordable Coverage: A third party car insurance plan is the kind of plan that offers the most basic coverage to the policyholder for their insured vehicle. The insurance premiums payable towards the plan are quite affordable due to the nature of protection offered under the plan.
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Must Read Articles before buying Bajaj Allianz Car Insurance
- The Government of India amended the Motor Vehicle Act in 2019 as part of an endeavor to reduce the incidence of deadly road accidents and irresponsibl
- This post will explain the various Bajaj Allianz auto insurance coverage.
- Modifying cars results in changes in premiums. Read this article to know how car modifications can impact your Bajaj Allianz car insurance plans.
- Read this article to understand the benefits of purchasing the private car package policy with Bajaj Allianz General Insurance.
- A cashless car insurance claim refers to a car insurance claim in which the insured does not need to pay anything out of their own pocket during the r
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Bajaj Allianz Third Party Car Insurance FAQs
How is Bajaj Allianz Third Party Car Insurance beneficial for the policyholder?
Uncertainty is the ultimate truth of life. You never know when an accident can happen with your car. Therefore, Third Party Car Insurance policy helps the policyholder to be ready for the harm caused to another person through their vehicle. It compensates for the losses caused to property and life.
Will the damage caused to my vehicle be covered under Third Party Car Insurance policy?
Under the policy, only damages caused to another person (third party) is covered. Any damages occurred to the insured or insured’s vehicle are not covered under the policy.
Why should I take a third party car insurance policy?
Third party car insurance policy is mandatory for every vehicle owner. It protects the policyholder from the hustle of legal liabilities. Along with that, it prevents you from paying against those heavy damages by backing them up with financial expenses that are required to compensate for the third party.
Will I get NCB along with my third party cover?
No, No Claim Bonus is not applicable to third party car insurance policy.
What is the minimum tenure period for third party cover?
Bajaj Allianz General Insurance offers third party cover for a minimum tenure of 1 year. The policyholders need to renew their policy at the end of the period.
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