Low Cost Third-Party Insurance Plan
General information
Unfortunately, we can not foresee everything. It can happen that we cause a damage to somebody unintentionally and then we have to pay. It is better to shift the responsibility onto the insurance company. Third Party insurance plan are the most popular insurances all over the world. They cover personal injury and property damage.
Low Cost Third Party Insurance cover for personal injury includes:
- liability for death or injury to third parties - it means that you are insured against death or injury (caused by your vehicle) to pedestrians, occupant of other vehicles, and outsiders other than passengers;
- liability to employees connected with operation of the vehicle - this means you are insured against death or injury (caused by your vehicle) to the vehicle's drivers, cleaners, conductors etc;
- liability to passengers carried in the vehicle for hire - this means that as an owner of a taxi, bus or auto, you are insured against death or injury (caused by your vehicle) to the passengers.
Low cost Third Party plan is sometimes called Public Liability Insurance.
You buy the policy for one year. The premium can be paid once as a lump sum or in several installments. The insurance works 24 hours in your country. However, you can widen your basic insurance by some additional services. If you travel a lot, you can buy the policy that works in the whole Europe. Some companies give discounts for single parents, childless marriages or marriages with adult children.
Types of insurance
There are two types of the low cost Third Party insurance plans. The first one protects you against damages in your private life that you make to other people. The insurance includes the following events: causing somebody’s death, injury of the body, destruction of somebody’s property. The policy protects also your family: husband and children, as well as the actions of your pets. The insurance company will pay the compensation for the unintentionally caused damages made for example by your dog. This type is connected with not allowed action, if you are innocent but responsible for something. The second one is connected with wrong execution of order, if you don’t fulfill your duties.
The majority of people associate Third Party Insurance mainly with cars. You can learn more reading about Car Insurances.