Here are some key features of third party only insurance cover:
1. Liability Coverage: Third party only insurance primarily covers the legal liabilities and financial obligations towards third parties, including other drivers, passengers in other vehicles, pedestrians, and property owners, in case of an accident caused by the insured vehicle.
2. Legal Defense: In case of a legal dispute or claim arising from an accident, third party only insurance provides legal representation and defense for the insured party.
3. Compensation for Third Parties: If the insured party is found legally liable for an accident, the insurance company will compensate the affected third parties for their damages and injuries, including medical expenses, property damage, and loss of income.
4. No Coverage for Own Vehicle: Unlike comprehensive or fully comprehensive insurance, third party only insurance does not cover damage to the insured vehicle itself. If the insured vehicle is involved in an accident and requires repairs, the owner will be responsible for the costs.
5. Optional Add-Ons: Some insurance providers offer additional coverage options that can be added to a third party only policy, such as personal injury cover for the driver and passengers of the insured vehicle.
It's important to note that third party only insurance is the minimum legal requirement for motor insurance in many countries, providing basic protection against liability claims from third parties. However, for comprehensive coverage that includes damages to the insured vehicle and personal injury, drivers typically choose more comprehensive insurance options, such as fully comprehensive insurance.
