Owning a car was a luxury, a prominent form of social status, and now it has become one of the basic necessities of the affluent section of society.
Accidents happen when you least expect it. Motor vehicle insurance is essential as it helps you reduce liabilities and pays for damages during unfortunate incidents.
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Third-Party Car Insurance and Legality
Third-party car insurance in uae is the most rudimentary insurance policy; it is the primary insurance cover for third-party damages. Third-party insurance coverage is a special policy that protects a vehicle owner against damages including death or bodily injury to a third party by the insured vehicle; it covers lawsuits including legal fees brought against the vehicle owner as a result of an accident, it covers vehicle repairs due to damages caused in an accident. It does not cover personal damages. If you buy a standalone third-party insurance plan, the policyholder can club it with a comprehensive car insurance plan that offers its damage cover.
According to UAE RTA law, it is a legal requirement for all vehicle owners to have a third-party car insurance in dubai policy in place. Driving a car without a third-party car insurance policy is a criminal offense.
How Does it Work?
If a policyholder with a valid driving license meets with an accident, the insurance company offers to pay for the repairs to the third-party property. In an accident, the policyholder must immediately inform the insurance company about it. Then, the holder must file a claim for repairs and damages; once the claim is filed, the insurance company appoints a surveyor to assess the damages and estimate the cost of repairs. Once the verification process is complete, the insurance company will settle the claim amount. This cover cannot be used for personal damages. This gives the policyholder peace of mind because, in unforeseen circumstances, he/she has sufficient financial protection against third-party claims under no-fault liability.
The Benefits of Third-Party Car Insurance
- It is a legal mandate: The law makes it compulsory for all vehicle owners to have a third-party car insurance policy.
- It offers legal protection and financial assistance: The insurance cover takes care of the financial burden in an accident that causes death or disability or damages to a third party property.
- It is the cheapest form of car insurance: Third-party car insurance premium is a fixed nominal amount; policies can be bought or renewed easily without too many complications.
- Reduces financial burden: An unfortunate accident can be traumatic and drain your finances. A third-party car insurance policy will relieve the financial stress by paying for damages and repairs to third-party property.
As a responsible citizen, it is advisable to have a secure comprehensive car insurance plan that protects you from third-party liabilities and own damage to the insured vehicle and the driver of the vehicle at the time of unfortunate incidents.
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