BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A car insurance that allows coverage over your responsibilities.
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an insurance that covers your third party that you hold
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covers Death from yourself
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Third Party Property Damage is a form of insurance that allows coverage over your responsibilities for damaging someone else’s property or an accident.
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Detailed explanation-1: -Third-party insurance, which is also sometimes referred to as ‘act-only’ insurance is a statutory requirement for all vehicle owners as per the Motor Vehicle Act. It is a type of insurance cover where the insurer offers protection against damage to the third-party vehicle, personal property and physical injury.
Detailed explanation-2: -Property Damage: In case of property damage of the third-party, a claim can be filed through the Motor Accident Claims Tribunal within the jurisdiction of the accident.
Detailed explanation-3: -Third party insurance does not cover own damages sustained by the insured vehicle. An own damage cover cannot be purchased separately. It can only be purchased along with a third party liability cover or under a comprehensive car insurance cover.
Detailed explanation-4: -The most common type of third party insurance is the automobile insurance. Take for example, when met with an accident, you file an accident claim. In this case you are the first party protected by the insurance company, who is considered as the second party.
Detailed explanation-5: -Help for Car | Motor Insurance India. The policy provides Third Party Property Damage( TPPD ) of Rs. 7.5 lakhs (Private Cars ) and Rs. 1 lakh/-( in case of Two wheelers) .