Policy Bazaar Car Insurance First Party. 20% off for first time users & 10% off for existing users on express items *t&c apply. Five major types of covers can be involved in a car insurance policy.
You may opt only for a third party cover. All car owners are compulsorily required to have a personal accident (pa) cover of up to rs. Here, insured is the first party, the insurer is the second party, while the party who will claim for the sustained losses is the third party.
All car owners are compulsorily required to have a personal accident (pa) cover of up to rs.
Thus, the car owner is referred to as the first party in a car insurance policy. First party car insurance policy since the first party is the policyholder himself/herself, a first party car insurance refers to the personal accident cover. Whether the car is old or new, the premium amount decided for the vehicle is the same for both as premium depends on the engine size and not the age of the car. A car insurance can be divided into 4 broad categories.