What is the difference between ‘third party only’ and ‘comprehensive’ motor insurance policy?
Comprehensive motor insurance policy provides following covers: Cover for ‘Own Damage’ – any damage caused to the vehicle during a mishap Cover for ‘third party liability’ – any damage caused to a third person, third person’s vehicle or property Cover for ‘theft’- in case the vehicle is stolen. Other benefits like towing charges, Depreciation cover, No claim bonus protection, Daily Allowance etc. are also available as an in-build cover or as an optional cover, as per product features. Where as, the ‘third party only’ cover is for covering the ‘third party liability only’.
