Third Party Car Insurance – Car insurance is mandatory in the United States as well as in many countries around the world. We know what type of insurance we can have in the event of a fender or all-out accident protecting the driver and passengers.
However, what if there is an accident involving your car but you are not the driver? Many of us will lend a car to a friend or relative without thinking of an accident or injury to the driver or the car. In this case, we have third party insurance.
Third party car insurance covers you if your car causes damage to third party property in the event of an accident. This is considered compensation for unintentional damage to someone’s property, and compensation can be up to $20 million.
Your car may not be eligible for insurance considering that it belongs to someone else. If you have experience repairing cars, you know that a scratch or crash can cost thousands of dollars. Your car may not deserve the peace of mind it deserves.
If your car is damaged by an uninsured driver, there are benefits to getting third party car insurance, as several companies will cover you. In addition, most third party car insurance companies understand the importance of your car for your daily needs and resolve claims as quickly as possible. Different third-party auto insurance companies have different coverage options, so you have a lot to choose from.
In the United States, it is mandatory to have liability insurance to cover personal injury and property damage. However, each state has unique insurance requirements. Penalties for not getting auto insurance vary from state to state, but generally include significant fines, suspension of license, and sometimes even imprisonment.
In general, the minimum insurance required by law is third party auto insurance to cover third parties to cover financial losses in the event of property or personal damage or injury that may be caused to your vehicle.