Third-party car insurance vs. Comprehensive car insurance. Compare on Coverfox. We all know that buying an auto insurance policy is mandatory while purchasing a car. In fact it is a legal requirement as per the law. This makes sense considering the fact that car insurance offers you safety and security from any damage to both parties involved in the accident.
But what kind of car insurance should one choose? Motor insurance can be broadly classified into two types: Third-party car insurance and Comprehensive car insurance.
This form of insurance provides only for damages to the other vehicle in case of an accident at your fault.
Unfortunately, any kind of damages to your own vehicle are not covered.
This form of insurance covers the damages caused to both, the third party vehicle and your own car.
Your car is also covered for theft or damages due to natural calamities.
This type of insurance provides coverage for your car’s damages and losses including events caused due to man made, natural calamities, and theft.
Since only damages to the third-party vehicle are covered, premiums are lower compared to a comprehensive insurance policy.
While there is no limit to the compensation in case of death and injury, compensation related to property damage is up to Rs. 7,50,000.
You don’t have to worry about paying someone else’s repair bills in case of an accident. Third-party insurance takes care of just that!
Here is a comparison of Comprehensive vs Third Party Cover Car Plans:
| What is Covered? | Third-Party | Comprehensive |
|---|---|---|
| Third-Party Vehicle Damage | ||
| Third-Party Property Damage | ||
| Own Vehicle Damage | ||
| Vehicle Theft | ||
| Fire Damage | ||
| No Claim Bonus | ||
| Cashless Claim | ||
| Damage from Natural Calamities | ||
| Personal Accident Covered | ||
| Engine Protection | ||
| Zero Depreciation Cover | ||
| NCB Protection | ||
| Invoice Cover |
Third-party liability insurance policy neither covers damages to your car during an accident nor other instances such as theft or fire! Can there be anything worse than that? Not really.
Shifting from a comprehensive to a third-party insurance is easy (just ask for an inspection while renewing the policy and pay the difference). It’s not that simple the other way around.
Are you clueless about which car insurance to buy?
In such a case, buying third-party insurance makes sense. Simply because in case of an accident, the cost of repair for your car may not create a huge dent on your pocket.
A comprehensive policy here is highly recommended. You might have to pay a little more, but it's worth it, because your car and the third-party would be protected against all damages.
It is advisable to purchase a comprehensive car insurance coverage policy over a basic third party. A comprehensive car plan will protect you and your vehicle from Own damage as well as third party liability cover.
No, a third party basic car insurance plan protects you from third-party/person/property liability. A comprehensive car insurance coverage plan will protect you from third-party liability as well as damage occurring to your own vehicle.
Yes, you can convert your third-party car plan to a comprehensive car insurance policy. You need to apply for inspection during the time of policy renewal and pay the revised/new premium amount.
Only a comprehensive car insurance coverage policy provides complete protection against fire, theft, man-made and natural disasters.
Yes, you can avail of rider options only for a comprehensive car insurance coverage policy.
Comprehensive car insurance provides coverage to your vehicle as well as third party and property.
Third party insurance provides coverage for your car’s damages and losses including events caused due to man made, natural calamities, and theft.
