3RD PARTY INSURANCE
Benefits of 3rd Party Insurance
In short, 3rd party insurance refers to the protection against
liability for damage to another person’s vehicle or
property in case of an accident caused by the insured.
3rd Party insurance - Third Party explained
In all types of car insurance, including 3rd party insurance,
the Third Party is anyone other than the original two parties
who have entered into an insurance agreement. You as the insured
are the first party and the insurer is the second party in
the contract. The Third Party is not directly related to the
policy contract, but is affected by the terms stated in the
contract.
If the vehicle owner took out a policy with the insurer and
gets into an accident where the property of another person,
not directly involved in the agreement is damaged, then the
insurer will pay for the damages to the particular property.
The property of the person in 3rd party insurance includes
the vehicle and people in the vehicle.
Why should you have 3rd party insurance?
It is the most basic insurance cover available from Redisure
to protect you against claims from other drivers. We all try
to drive responsibly, but accidents do happen. You may well
be the cause of the accident and without insurance you face
tremendous lawsuits. Medical bills of the injured and damages
to the other driver’s vehicle can be staggering.
Apart from the inconvenience, it can literally cause bankruptcy
and can even mean that you end up in jail. For this reason,
Redisure offers 3rd party insurance to protect you against
possible claims. This policy however, doesn’t cover
damages to your vehicle. If you want to have more comprehensive
cover, you should consider the next level of coverage, namely
Third Party, Fire and Theft Policy.
Second level coverage for Third Party,
Fire and Theft
This policy not only covers any damage to the other
driver’s car or injuries caused by the accident, but
also covers your car against damage from fire, or theft. This
is a bit more comprehensive and provides more peace of mind.
The Comprehensive Cover available from Redisure is the policy
type normally required when you lease, rent or purchase a
vehicle on credit.
Comprehensive
CoverThe Redisure Comprehensive Cover includes 3rd party insurance,
fire and theft, but also includes several other risks that
you may face. It covers damage to your vehicle caused by natural
disasters and by another party. You are also covered for expenses
for damage caused when you hit another vehicle or object.
The following are also included in this type of cover:
- Any medical expenses up to the maximum limit per person
for injuries caused in an accident.
- Expense of replacement of car keys and locks.
- Cover for liability for unauthorized people with you
in the vehicle
- Top-up or gap fill payment for when the value of the
vehicle is less than is still owed on the vehicle.
- Cover against claims from the other parties for injuries,
or damage to their property.
- Repair or replacement costs for vehicle windows.
- Payment of accommodation expenses as a result of a specified
incident.
- Loss of the vehicle.
- Damage of the vehicle
- You can also include additional coverage for your car
radio.
There are normal limitations to the Comprehensive Cover,
the 3rd party insurance, and the Third Party Fire and Theft
policies. These limitations are specified in your contract
and include:Any loss or damage as the result of public uproar
or strikes and loss or damage covered by SASRIA. Loss or damage
caused outside South Africa; through mechanical or electrical
breakdown; applicable excess amounts, and driving under the
influence of alcohol or intoxicating substances are also not
covered. Persons driving your vehicle without valid driver’s
licenses and consequential loss also fall into the category
of not being covered.
As you may well acknowledge, it is better to have 3rd party
insurance than to drive without it. Redisure covers you and
acts on your behalf when you cause an accident. Don’t
delay in getting insurance to minimize your risk. |
