Third Party Car Insurance

A third-party car insurance plan is a type of auto insurance that provides coverage for damages and injuries caused to third parties in the event of an accident where you, the policyholder, are at fault. It does not cover any damages to your vehicle or injuries you may sustain in the accident.

Instead, it safeguards other individuals involved in the incident, including passengers, pedestrians, and the property of others.

For example, if you accidentally collide with another car, and it's determined that you were responsible for the accident, your Third-party car insurance will cover the cost of repairing the other car and any medical expenses incurred by the occupants.

However, you would need to cover the repair costs for your car from your pocket, as your policy won't provide any compensation for your damages.

Third-party car insurance is typically the minimum legal requirement in many countries, ensuring financial protection for others if you cause an accident while driving.

When an accident occurs, and you are at fault, your third-party vehicle insurance will cover the expenses for repairing the other party's vehicle and any medical treatment required for their injuries. It may also cover damages to other properties, such as fences or buildings, and legal liabilities arising from the accident.

It's essential to note that the insurance company predetermines the coverage limit for Third Party Insurance and may vary based on the policy terms. If the costs of damages or injuries exceed the policy's limit, the policyholder will be personally liable for the remaining expenses.

After you file a claim with us, we will evaluate the damage to the other party's vehicle and the costs of the injured driver's medical care. If determined to be valid, we would pay the third party's car repair costs and any associated medical costs up to the policy's predetermined limits.

One of the critical advantages of Third-party car insurance is that it fulfils the legal requirement in many countries, allowing you to drive legally on the roads. However, it's crucial to understand its limitations and consider additional coverage, like comprehensive insurance, for better vehicle protection and potential medical expenses.

Lower premium rates - Being the most basic type of car insurance policy, it is available at a low premium rate. It is, therefore, a cost-effective option compared to other types of car insurance plans.

Liability coverage - Third-party car insurance plans cover third-party bodily injuries and third-party property damages caused due to your insured car.

Limited coverage - Third-party car insurance will cover third-party liabilities and does not compensate for the damages incurred to your damaged car.

Simple purchase process - Being the basic and standard four-wheeler insurance plan, the process to purchase is simple, with minimal documentation requirements. You can buy third-party car insurance online.

Third-party insurance coverage is vital for the following reasons:

Legal requirement - According to The Indian Motor Vehicles Act of 1988, every motor vehicle needs to have a third-party car insurance plan. You may be charged penalties if you don't have a valid third-party car insurance policy. Third-party car insurance renewal online is a simple and less time-consuming process.

Coverage for third-party liabilities - A third-party car insurance plan covers third-party person injuries, death or property damages due to your insured car. You can register for a car insurance claim online at your convenience.

Safety net - Provides financial security for unforeseen accidents due to your insured car.

The third-party car insurance premium rates are determined by The Insurance Regulatory and Development Authority of India (IRDAI). It is based on the car engine's cubic capacity and is subject to revisions every year. Third-party car insurance renewal based on the revised price can be done online. The third-party car insurance premium rates for 2023 are as follows:

1 Year Single Premium For Cars

3-Year Single Premium For Cars

1 Year Single Premium For Electric Cars

3-Year Single Premium For Electric Cars

The Third Party Bike Insurance premium in India is determined based on guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI). The premium calculation for Third Party Insurance primarily focuses on the potential liabilities that may arise from an accident caused by the policyholder. Unlike Comprehensive Insurance, which covers own damage and offers more comprehensive coverage, Third Party Insurance only covers damages and injuries to third parties.

The key factors that influence the premium calculation for Third Party Bike Insurance in India are as follows:

Cubic Capacity (CC) of the Bike: The engine capacity of the bike, measured in cubic centimetres (CC), is a crucial factor. Higher CC bikes are generally associated with higher risks, leading to higher premiums.

Zone of Registration: India is divided into zones based on geographic locations, each with predefined premium rates. Zones with higher traffic density and accident rates tend to have higher premiums.

Age of the Bike: The age of the bike at the time of insurance purchase affects the premium. Older bikes might have a lower premium compared to newer ones.

Anti-Theft Devices: Installing anti-theft devices approved by the Automotive Research Association of India (ARAI) can lead to premium discounts, as they reduce the risk of theft-related claims.

Voluntary Deductibles: Policyholders can opt for voluntary deductibles, agreeing to bear a certain amount of the claim during an accident. Choosing a higher voluntary deductible can lower the premium, which means higher out-of-pocket expenses during a claim.

No Claim Bonus (NCB): If the policyholder has a history of not making any claims, they may be eligible for a No Claim Bonus, which can lead to a premium discount upon renewal.

Legal Requirements: IRDAI sets the minimum premium rates or price bands that insurance companies must follow while determining the premium for Third Party Bike Insurance in India.

Policyholders must provide accurate information to the insurer to avoid any discrepancies in the policy. As Third Party Bike Insurance is mandatory by law in India, the premium rates are regulated to ensure affordability and accessibility for all vehicle owners.

You can easily determine the price of your Tata AIG third-party car insurance using our specially designed third-party car insurance calculator. The calculator considers your car's engine's cubic capacity (cc), aligning with the premium rates set by the Insurance Regulatory and Development Authority of India (IRDAI).

Although the car insurance cost follows standardised rates, it is essential to calculate the premiums due to variations in the cubic capacity among different cars. This ensures that you get an accurate quote tailored to your specific vehicle.

The IRDAI reviews and updates these third-party car insurance rates annually to keep up with industry changes and maintain fairness. You can easily calculate your car insurance price by referring to the existing rates in the table provided.

Rest assured that our user-friendly calculator considers all relevant factors, making the process hassle-free and enabling you to obtain the most up-to-date and accurate third-party car insurance cost for your Tata AIG policy.

[*Note – These prices can change as per the new rules by the IRDAI]

A Third Party Car Insurance Plan with Tata AIG covers damages and injuries caused to third parties in an accident where you, the policyholder, are at fault. It is mandated by law in India and fulfils the legal requirement to drive on public roads.

Let's explore the things covered and not covered under this type of policy:

Before you buy car insurance in India, several crucial factors should be considered to ensure you make an informed decision and obtain the right coverage for your needs.

Let's explore these factors:

Legal Requirement: Understand that Third Party Car Insurance is legally mandatory in India. It is the minimum insurance coverage required to drive legally on public roads. Ensure you comply with this legal requirement to avoid penalties or legal issues.

Coverage Limit: Third Party Car Insurance offers limited coverage for damages and injuries to third parties only. Familiarise yourself with the coverage limits provided by the policy, as these are predetermined and may vary among insurers.

Add-Ons and Riders: Although Third Party Car Insurance is basic, some insurers may offer optional add-ons and riders to enhance coverage. Consider add-ons like Personal Accident Cover for passengers or legal protection to customise the policy according to your requirements.

Premium Cost: Compare premium costs from different insurers to find a policy that suits your budget. The premium is typically determined based on factors such as the vehicle's cubic capacity (CC), location, and vehicle age.

Insurer's Reputation: Research the insurer's reputation, claim settlement record, and customer service. Tata AIG is a reputable insurer known for hassle-free and efficient claim settlement.

Policy Terms and Conditions: Carefully read and understand the policy's terms and conditions, including inclusions and exclusions. Be aware of specific requirements or conditions affecting your coverage or claim process.

Coverage Limitations: Be aware of the limitations of Third Party Car Insurance. It does not cover damages to your vehicle or personal injuries sustained in an accident. Consider Comprehensive Car Insurance if you need broader coverage.

Claim Process: Tata AIG’s claim settlement process is swift and easy to proceed. Our smooth and straightforward claim process is crucial during emergencies; hence, this is one of the most important factors to consider before purchasing third-party car insurance.

Customer Reviews: Check online reviews and feedback from other policyholders to gain insights into the insurer's customer service, claim settlement efficiency, and overall customer satisfaction. For Tata AIG, you can review a few testimonials from our past customers at the end of this page.

Renewal Process: Understand Tata AIG’s car insurance renewal online process and be mindful of renewal dates to ensure continuous coverage without any lapses.

Tata AIG's Third Party Car Insurance Online offers several benefits that make it a convenient and efficient choice for car owners in India. Here are a few key advantages:**

Ease of Purchase: Purchasing Third Party Car Insurance from Tata AIG online is seamless. It eliminates the need to visit physical offices, allowing policyholders to buy or renew their insurance from the comfort of their homes anytime.

Instant Policy Issuance: With Tata AIG's online platform, policyholders can receive their insurance policy instantly via email. This eliminates any waiting period, ensuring that they are legally compliant and protected on the road without delays.

Comparative Analysis: We provide the opportunity to compare different insurance policies online. This allows potential buyers to assess coverage features, premium costs, and add-on benefits, enabling them to make an informed decision.

Hassle-Free Renewals: Renewing third-party car insurance with Tata AIG online is hassle-free. Policyholders receive timely reminders for renewal, and with a few simple steps, they can extend their coverage without disruptions.

Secure Payment Options: Tata AIG's online platform offers secure payment gateways, ensuring that policyholders can make premium payments online.

Accessible Customer Support: The online platform typically provides access to customer support through chat, email, or phone. This allows policyholders to get their queries addressed promptly and seek assistance when required.

Instant Documentation: All policy-related documents, including the insurance policy and terms, are available online. Policyholders can access and download these documents whenever needed.

Digital Records: Keeping digital records of the insurance policy and related documents helps in easy retrieval and reduces the chances of losing important papers.

Time and Cost Efficiency: Online purchase and renewal save time and effort for both the insurer and the policyholder. It also eliminates paperwork, reducing administrative costs and making the process more cost-effective.

By offering a seamless and user-friendly experience, our Third Party Car Insurance online provides car owners with the convenience and flexibility they need to secure essential vehicle insurance coverage quickly and efficiently.

Comprehensive and Third Party Car Insurance are two distinct types of auto insurance policies offering different coverage levels. Understanding the key differences between the two is essential for car owners to make an informed decision based on their specific needs.

Here are the main contrasts between Comprehensive and Third Party Car Insurance:

Buying or renewing Third Party Insurance online for four-wheelers with Tata AIG is straightforward and convenient.

Here's a step-by-step guide to help you through the process:**

Buying Third Party Car Insurance:

Visit Tata AIG's Website: Go to the official website of Tata AIG General Insurance.

Select the Four-Wheeler Category: Choose "Car Insurance" or "Four-Wheeler Insurance" to proceed with your car's insurance purchase.

Enter Vehicle Details: Provide essential information about your car, including its make, model, manufacturing year, and registration number.

Choose Policy Type: Select the type of policy you want to purchase, Third Party Car Insurance.

Add-ons and Riders: Tata AIG may offer additional add-ons or riders to enhance your coverage. Decide whether you want to include any of these optional benefits.

Fill in Personal Details: Enter your personal information, contact details, and other required information.

Review and Compare: Carefully review the policy details, premium amount, and coverage. Compare with other available options if necessary.

Make Payment: Once satisfied with the policy, make the premium through online payment options, such as credit/debit cards, net banking, or mobile wallets.

Receive Policy: After successful payment, you will receive the insurance policy instantly via email. You can also download and print a copy for your records.

Renewing Third Party Insurance:

Visit Tata AIG's Renewal Page: Go to the Tata AIG website's renewal section for car insurance.

Enter Previous Policy Details: Provide the details of your expiring Third Party Insurance policy, such as policy number and expiry date.

Review and Compare: Check the policy details, premium amount, and coverage offered for the renewal. You may have the option to modify or upgrade your coverage during renewal.

Make Payment: Proceed to make the premium payment through online payment methods.

Receive Renewed Policy: Upon successful payment, the renewed policy will be generated and sent to your registered email address. You can also download the renewed policy document.

IRDAI decides the third-party four-wheeler insurance premium rates based on the engine's cubic capacity. It is declared every year and subject to changes annually.

Every insurance provider is mandated to follow the guidelines and the premium rates for third-party car insurance based on the IRDAI regulations. Therefore, the third-party car insurance price is the same for all the insurance providers, and there is no way to purchase the cheapest third-party car insurance.

You can access the premium for the third-party insurance online at the respective insurance provider’s website.

However, it is important to note that the third-party car insurance premium will vary for private and commercial vehicles, such as passenger vehicles or goods-carrying vehicles. So, find out the exact price for your car and approach your insurance provider for the same premium quotes.

At Tata AIG, we offer simple and user-friendly processes to purchase third-party car insurance online at your convenience.

Tata AIG’s claim settlement process is pretty simple.

Filing a Claim as a Policyholder (Own Damage Claim)

Step 1: Secure the Scene and Ensure Safety

Immediately after the accident, ensure the safety of all parties involved. Move your bike to a safe location, turn on hazard lights, and assist anyone injured. If required, inform the local authorities and seek medical help.

Step 2: Gather Information

Collect essential details about the accident, such as the date, time, location, and contact information of witnesses and the other involved party. Take photographs of the accident scene and the damages to your bike as evidence.

Step 3: File a Police Report

Report the accident to the nearest police station and file an FIR (First Information Report). A police report is crucial while filing an insurance claim.

Step 4: Inform Tata AIG

Contact Tata AIG immediately to report the accident and initiate the claim process. You can do this through the company's helpline number or its website. Provide all the necessary details and information about the accident.

Step 5: Claim Survey and Inspection

A surveyor appointed by Tata AIG will inspect the damages to your bike and assess the extent of the loss. Cooperate with the surveyor and provide all relevant documents and evidence.

Step 6: Submit Required Documents

Submit all the necessary documents to support your claim. This typically includes the filled claim form, a copy of the FIR, policy documents, vehicle registration details, driving licence, and any other documents requested by the insurer.

Step 7: Settlement and Payment

Tata AIG will process the claim after completing the survey and verifying the documents. If the claim is approved, the insurer will provide the settlement amount per the policy's terms and conditions. You may need to pay the deductible or depreciation per the policy terms.

Filing a Claim as a Victim (Third Party Liability Claim)

Step 1: Gather Information

Collect all necessary information about the accident, including the involved parties and witnesses' date, time, location, and contact details. Take photographs of the accident scene, vehicle damage, and any injuries sustained.

Step 2: Report the Accident

File a police report and inform the nearest police station about the accident. An FIR is essential for claiming third-party liability insurance.

Step 3: Identify the Insurer

Find out the insurance details of the at-fault bike by obtaining the policy number or registration details. Contact us or check our website to identify the insurer and policyholder.

Step 4: Inform Tata AIG

Contact us and provide all relevant information regarding the accident and your claim as a third-party victim. Provide the policy number or registration details of the at-fault bike.

Step 5: Claim Survey and Inspection

Tata AIG may appoint a surveyor to inspect the damages to your vehicle and assess the extent of your losses. Cooperate with the surveyor and provide any requested documents and evidence.

Step 6: Submit Required Documents

Submit all necessary documents to support your claim. This may include a copy of the FIR, policy documents, vehicle registration details, driving licence, and any other documents requested by the insurer.

Step 7: Claim Settlement

Once the survey and verification process is complete, Tata AIG will process your claim. If your claim is approved, the insurer will provide the settlement amount per the policy's terms and conditions. The settlement amount will cover the damages to your vehicle and any medical expenses incurred due to injuries.

Tata AIG's Third Party Car Insurance provides essential coverage for damages and injuries to third parties caused by the policyholder's vehicle. While it fulfils legal requirements and offers affordability, it does not protect against damages to the insured vehicle or injuries sustained by the policyholder.

You should consider Comprehensive Car Insurance with optional add-ons for more comprehensive protection. Our user-friendly online platform lets policyholders easily purchase or renew their Third Party Insurance, benefit from instant policy issuance, and access secure payment options.

By understanding the policy's coverage and limitations, car owners can make informed decisions to ensure adequate protection on the road. Happy driving!

"I've been using Tata AIG's Third Party Car Insurance for the past two years, and I must say, it has been a hassle-free experience. Recently, I had an unfortunate accident where my car collided with another vehicle. Thanks to Tata AIG, the claim process was smooth and efficient. They handled everything promptly, from filing the claim to settling it without hassle. I highly recommend Tata AIG for their excellent customer service and reliable Third Party Car Insurance coverage."

• Rajesh Kumar, Delhi.

"I was sceptical about buying Third Party Car Insurance initially, but after researching various insurers, I chose Tata AIG, which was the right decision. Last month, my car accidentally damaged someone's property, and I was worried about the costs involved. Tata AIG came to the rescue! Their team guided me through the claim process and ensured a quick settlement. I appreciate their professionalism and commitment to customer satisfaction. I feel more secure on the road knowing I have Tata AIG's Third Party Car Insurance."

• Sneha Patel, Mumbai.

"Tata AIG's Third Party Car Insurance has been a reliable and cost-effective choice for me. I recently had a minor accident where I damaged another car's bumper. Despite being a small claim, Tata AIG treated it with utmost importance and settled it efficiently. Their online platform made the claim process incredibly convenient, and I received the settlement amount within days. Tata AIG's Third Party Car Insurance is the best value for money, and I will definitely continue using their services."

• Ravi Verma, Bangalore.