Third-party liability insurance
Called as Liability Only Policy or earlier called as Act Only Liability Policy. This type of insurance policy is mandated by law for all motor vehicles plying on the roads. This insurance provides cover to third-party liability for damages to property of third party as well as for bodily injuries or death of persons.Third-party liability insurance only covers minimal risks as required and is compulsory as per law and it does not protect the policyholder from damage or theft of the insured vehicle.
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