Whta does third party insurance actually mean for car insurers?

Mark Zed

Mmmm. I thought 3rd party meant not you, not the 2nd party who you had the accident with, but a third party who was injured as a result of the accident.

Also, there can be a separate 3rd party property insurance, which covers damage to the shop you accidentally ran into after smashing the motorcyclist off the road.

Big Bad Boris Mayor of London

I mean they cover you for losses the other party in an own fault accident but nothing for your losses

cookie

means if you hit someone they are covered you are not
they being the third party. if you want cover you must have fully comp

TOON ARMY FOR EVER.

Simply means your company will pay for the damage to other vehicle.Your own repairs you pay for yourself.So don't have a crash.

SnoddersB

The insurance covers the third party, that is not you or the insurer who are the first two. Therefore anyone else involved in the accident will be covered except yourself and your vehicle.

Neil

It means you are covered for damage you cause to someone else's property or person, but not for any damage to yourself or your own property. Property includes cars - so if you crash into another car your insurance will pay to repair the other car, but not your car.

In legal speak, you are the first party, the other person or company in a contract (in this case your insurance company) is the second party, anyone else is a third party.

futuretopgun101

It means they pay up for damage to anything except you and your car, the 1st and 2nd parties if you like. (if you are liabel that is)
Anything else is classed as the 3rd party, even if there are multiple 3rd parties, like another car and 3 pedestrians and a wall.

Empeedee

If you are in a 'bump for bump' situation where you are both to blame, your insurance company will not repair your vehicle, neither will the other vehicles insurance cover you. So if you cannot afford to pay the cost of any accident damage yourself and your car is worth a bit it's best to have fully comp.

The original Peter G

The minimum requirement is "Road Traffic Act" cover which pays out for injuries to other people including your passengers, only. "Third Party" generally also includes pay-out for damage to other peoples property. "TPFT adds cover if your vehicle is burnt out or stolen. and "Comprehensive" includes damage to your own vehicle. Note; payments for your vehicle may be subject to a reduction for the excess.

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