Third-Party Car Insurance

Securing third-party car insurance helps you cover the cost of damage or loss incurred by a third-party vehicle or individual. On Bajaj Markets, you can explore plans from top providers offering substantial coverage. Premiums start at just ₹2,094.

Operating a car without valid car insurance can lead to severe penalties, including substantial fines and even imprisonment. After a thorough comparison and review, get the best insurance policy that meets your needs today.

On Bajaj Markets, you can find numerous third-party car insurance providers. This grants you the opportunity to explore various options and compare their features, premiums, and benefits. This will allow you to select the policy that aligns with your specific needs.

Here is a table with some of the best insurance plans and their details: 

Disclaimer: The above-mentioned information is subject to change as per the latest updates of insurance providers.

The premium for this type of car insurance is decided by the RBI based on a number of factors, including the engine capacity. Refer to the following table to know the latest prices of third-party car insurance available on Bajaj Markets:

Disclaimer: These premium rates are valid as of April 2024. These are decided by IRDAI and are subject to change as per recent updates and revisions.

Insurance for an electric car is also compulsory in India under the provisions of The Motor Vehicles Act of 1988. It provides coverage for your electric vehicle, safeguarding you against financial losses in emergencies involving your car.

Refer to the table given below to know the premiums you need to pay for third-party car insurance for an electric car:

Disclaimer: The premium are current as of April 2024. These are decided by IRDAI and are subject to change as per the recent updates and revisions. 

A third-party car insurance policy provides cover for the following:

1. Third-Party Liability

The car insurance policy covers the financial liabilities that arise from the physical injury or death of a third party. This includes passengers and pedestrians who are affected due to an accident caused by your insured vehicle.

2. Property Damage

It provides coverage for damages caused to third-party properties, such as another person's car, fence, or any other structure.

3. Legal Expenses

This car insurance also covers legal expenses incurred in defending against third-party claims and lawsuits, if any, related to the accident.

4. Personal Accident (PA) Cover

Some policies may include a PA cover as an add-on facility. With this, you get compensation in the case of permanent disability or death due to an accident. Note that, like third-party cover, getting a PA is also mandatory as per the Motor Vehicles Act of 1988.

Here are the main differences between comprehensive and third-party car insurance:

Here are some key factors that you must pay attention to while claiming your third-party car insurance:

1. Claim From Another Party

Sometimes, your car may sustain damage because of someone else's mistake. If this happens, you must seek third-party insurance from them. 

2. Full Disclosure

Make sure that you share all the important information with your third-party car insurance company to claim the insurance without any problems. It is essential not to keep any critical details to yourself. If you do not disclose all the details, the company could deny your claim.

3. Claim-Related Documents

Ensure you carefully review all the related documents before filing a claim. It is essential to understand every detail in the policy document. When filling out the claim form, be diligent and provide accurate information. Double-check all the details after completing it. 

Even small mistakes, like an incorrect address or name, could cause unnecessary delays in settling your car insurance claim. In some cases, the insurer may even reject your claim.

4. Filing an FIR

To claim car insurance, you also need to file an FIR in some cases. In the case of an accident, you must do this immediately. You need to provide a copy of this FIR when you file a claim for your car insurance from the company. 

5. File the Claim on Time

Insurance companies have set timelines within which you must inform them of the accident and file your claim. If you miss the deadline, the claim may be rejected or delayed. Note that the insurer may let go of the timelines in the case of a severe accident. 

If you are unsure about any of this, contact your insurer. You can also check your policy document, and visit the official website or office to confirm the same.

By providing the benefits of legal compliance and financial protection, third-party car insurance is an indispensable investment for your vehicle. It also provides you with peace of mind since you know your car is adequately covered in the unfortunate event of damage or accidents.

On Bajaj Markets, you can explore some of the cheapest third-party car insurance plans and choose one that matches your needs. Get insurance with minimal formalities and secure your finances.

Having a third-party car insurance cover will protect you against financial and legal third-party liabilities. You must buy it to protect yourself from any unexpected misfortune that may take place.