Third Party Premium Car Insurance Calculator

08 Feb 2019

Driving a car can be a joyful experience, but no one can predict when something can go wrong. In case of an accident, one may get into legal and financial troubles. This is exactly what the Government of India had in mind when they mandated that all vehicle, be it cars, bikes or multi-axle wheel vehicles must own a third party liability insurance policy. One can even calculate the premium paid towards the insurance policy with the help of a car insurance premium calculator. Let's find out how a third-party insurance calculator works.

Things to know about third party liability insurance cover

Third party insurance cover for private vehicles is offered by all motor insurance providers in India as it is mandatory. As the name suggest, the principal beneficiary of this car insurance policy is neither the original policyholder, not the insurance company; it is the affected third-party individual. The policy covers the financial liability of the policy holder in case of a third-party individual's permanent disability caused due to the accident, or even death.

The third-party insurance cover premium is regulated by the Insurance Regulatory Authority of India (IRDAI). The premium is based on the cubic capacity, zone, vehicle age & policy tenure.

Disclaimer: For more details on risk factors, terms & conditions please read sales brochure carefully before concluding a sale. *The discount amount will vary subject to vehicle specification and place of registration.