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Thursday, February 4, 2010

What is Third Party Motor Insurance?

Third party insurance is a mandatory requirement for registering a car in Dubai. However, this is the minimum cover that is compulsory by law.

Individuals can further acquire a comprehensive insurance cover or an executive insurance cover with more and better options.

Third party insurance covers an individual’s legal liabilities towards others. Anyone aside from the insurer or the policy holder is deemed third party in the event of an unforeseen event like a car accident. So any loss or injuries suffered by a third party as a result of an individual’s bad driving or otherwise are covered under the third party insurance. In short, third party motor insurance is designed to protect victims of an accident in which your car is involved.

For an additional premium, third party insurance can also be extended to cover fire and theft. Hence, if your vehicle sustains damages caused by fire, you are entitled to protection under the third party fire and theft insurance cover.

Though third party insurance is mandatory, it is vital to remember that it only covers your liability towards others. So if your vehicle sustains damages this policy does not cover any loss or damage to your vehicle in the event of an unforeseen circumstance.

The main motive of third party insurance in UAE is to protect the interest of an innocent party who has to bear physical injuries, or damage to personal property because of someone’s negligent driving.

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