what does third party only insurance cover mean?
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Third-party only insurance (TPO) offers you the legal minimum level of car insurance cover, and is the most basic you're able to get. This kind of policy helps protect other people, vehicles and property in the event of an accident that was deemed to be your fault.
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The term 'third party' refers to a person involved with a car insurance claim who is not you – (the holder of the policy or the driver). ... A third party car insurance policy ensures that if you cause an accident, any damage to the other person's vehicle or property will be paid for by your insurer.
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Why get third-party insurance? The level of cover offered by third-party insurance policies can be good for drivers who are more likely to claim for any damage they cause when driving – and for drivers who can afford to pay repair costs for their own car without needing to claim on their insurance.
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Third party insurance is a policy which only covers the damage caused to the third party involved in the accident. ... Therefore, if you have a third party motor insurance , the insurance company would pay for the damages caused to any third party property or person, in the case of an accident.
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What is the Difference Between Comprehensive and Third Party Insurance? ... While a Third-Party insurance only covers you against third-party damages and losses, a comprehensive car insurance will cover for your own damages as well. Choosing the right kind of insurance for your vehicle is crucial in India.
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Third-party only is the lowest allowable level of insurance you can get. ... Third-party fire and theft is the same as third-party only, but the insurance will also cover your car if it's stolen or catches on fire. Comprehensive car insurance, on the other hand, will cover damage to your car as well.
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Third party, fire and theft insurance covers you for any damage caused to a third party or their property if you are involved in an incident, while also covering your own car if it's damaged by fire or stolen.
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Third Party Fire and Theft Motorcycle Insurance. Third Party Fire and Theft motorcycle insurance cover takes the basic cover of Third Party Only and includes additional cover should your motorcycle or scooter be stolen, damaged while being attempted to be stolen or catches fire.
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Whereas a basic or third party policy covers damage to the third party or their vehicle in case of an accident, bumper to bumper insurance offers coverage to your vehicle as well. ... In other words your vehicle is protected from the front bumper to the rear bumper (usually including airbags).
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Third-party car insurance is the minimum legal level of cover needed to drive a car. It covers you if you damage someone else's property or injure them while driving, and will cover your passengers too.
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What is Third Party motorcycle cover? Third Party motorbike insurance covers the costs of any damage to the property of other parties involved in an accident that was your fault. ... It sits below Third Party Fire and Theft and Comprehensive motorbike cover at the top of the range.
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Third Party Motor Insurance. covers the Insured's liability for death/injury to Third Party and loss or damage to the third-party property in the event of accidents. ... This means it is the legal minimum level of motor insurance cover any motor vehicle owner plying the Nigerian road is required to have.
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Third party insurance is the legal minimum. This means you're covered if you have an accident causing damage or injury to any other person, vehicle, animal or property. It does not cover any other costs like repair to your own vehicle. You may want to use an insurance broker.
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A third party car insurance policy ensures that if you cause an accident, any damage to the other person's vehicle or property will be paid for by your insurer. ... Third party only insurance also covers any passengers in your car with you, if they are injured in an accident.
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Car Third Party Only State's third party car insurance covers your legal liability if you damage someone else's property or accidentally injure someone when you're driving your car or another vehicle. ... You'll also need to help us recover your claim from the driver or the owner of the other driver's vehicle.
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With a third-party motorbike policy you'll only be covered for damage you do to someone else (in this case you're the 'first party', and your insurer is the 'second party'), their vehicle or their property. You won't be covered for the cost of any damage done to your own motorbike.
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Compulsory third party insurance, also known as 'green slip' insurance in some states, is a mandatory personal injuries insurance for motor vehicle owners throughout Australia. It's designed to cover death and injury to any other person involved in a motor accident where you're at fault.