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Old 25th July 2007, 09:15   #1
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Default Procedure and Limits of Comprehensive & 3rd party insurance policy

Hi guys! could you explain about 3rd party and comprehensive insurance policies for motor vehicles? Is it true that 3rd party insurance covers only upto Rs 6000/- compensation for property damage and unlimited for injuries to opposite party? If yes, Should we pay the amount exceeding Rs 6000/- from our pocket? Any difference in case of comprehensive insurance for damages to opposite party? Is it must to file a FIR to get compensation in case of Comprehensive policy? please help.
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Old 25th July 2007, 10:42   #2
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About 3rd party insurance - law mandates unlimited coverage for personal injuries, but not for property damage. I think you have to pay a little extra for higher coverage (but still, no unlimited coverage) for third party property damage.
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Old 25th July 2007, 10:54   #3
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Would the insurance company provide unlimited coverage for property damage to opposite party in case of comprehensive policy? In case of 3rd party policy who will estimate the damage, ie. police or our insurance company, to opposite party and should we pay the extra amount only after decree from court? Can we do anything in case of over estimation of damage caused to opposite party ie. mainly in FIR ?
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Old 30th July 2007, 17:48   #4
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For extra premium, they provide more coverage, but not unlimited coverage, afaict.

And I am yet come accross an insurance co which will pay up to 3rd parties (property or personal injury) without going to court.

However, there is one case where only damage was to property belonging to a government / quasi govt institution, and the insurance co. paid up without going to court, coz. the institution's engineers were competent, and I guess they would have had to pay more if the matter went to litigation.
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