3 Reasons Why A Third Party Car Insurance Is Not Enough?
Updated On Oct 13, 2023
A third party insurance cover is mandatory but not recommended, here's why.
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Car insurance which is now a mandate in India is typically of three types, out of which, third-party car insurance is very important. According to the Motor Vehicles Act of 1988, third-party car insurance is also a must-have. It is illegal to drive a car without having third-party car insurance which provides coverage against liability arising out of damages caused to a third party. The benefits of having third-party car insurance are many, however, it is not always enough. Want to know why? Read on to know and also understand the reasons behind it.
Is Third-party Car Insurance Enough?
Third-party car insurance is one of the important types of car insurance plans that help you with financial compensation in case a third-party person is injured or property is damaged. Damages, death, or disability caused to a third party is covered. . Thus, to simplify, the case if your vehicle causes an accident and causes any kind of damage, then it is the third-party car insurance that can be of help. Owing to this great advantage, it is no surprise that having third-party car insurance is now a must.
But, will this coverage be always enough? Let’s address this question now.
Reasons Why A Third-Party Car Insurance Is Not Enough
Third-party car insurance is not always enough as it does not offer all kinds of required coverage. So, listed below are some reasons why third-party car insurance is not enough:
1. Damages To The Car Remains Uninsured
Imagine a situation where your car is involved in an accident and causes damage to a third party. In such a case, if you only have third-party car insurance, then financial compensation will only be provided to the respective third party. Third-party car insurance will not cover any damage caused to your car and thus you will have to spend your hard-earned money on getting your car repaired. This illustration justifies how third-party car insurance does not provide the adequate coverage you needed at that time. Third-party car insurance is helpful if the damage is caused only to a third party, in other cases comprehensive car insurance or standalone car insurance becomes a must-have.
2. Add-ons Option Is Unavailable
Generally, including an add-on in any insurance is a great sense of relief in increasing its benefits and the same is the case with car insurance as well. However, if you just have third-party car insurance, then you are not given the option of including add-ons to your plan. Add-ons like zero depreciation add-on cover, roadside assistance add-on cover, and others can only be included in a comprehensive car insurance plan.
3. No Coverage Against Theft Of A Car Is Available
There is a high chance that your car can get stolen by anyone. So, in order to stay protected against such a situation, you would want to protect your car in advance. Right? But, to help you take care of this, third-party car insurance won’t be enough as it does not provide protection against the theft of the car. So, it is better to take a standalone car insurance plan along with third-party car insurance.
In order to ensure complete protection, you must buy a comprehensive car insurance plan. A comprehensive car insurance plan is what helps you to get protection in case your car is damaged due to natural calamities, theft, accident, or anything else along with offering personal accident cover. You can get almost all the required protection under this single plan, so prefer buying a comprehensive car insurance plan.
We hope this blog helps you understand why third-party car insurance can not always be enough for you to get the protection you have been looking for. So, make an informed decision while buying a car insurance plan, or simply contact us to know all the different car insurance plans available
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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.