Team-BHP - Third party policy soon to be available online

Some cheers to motorists who buy the TPL policy only.

IRDA has issued a circular to all General insurance companies who provide Motor insurance to make the Third party liability only policy available online too. Presently if a motorist wished to buy only TPL policy, he would have to visit the Insurance company's branch, get the car inspected and pay either through cheque or cash. There was no option to buy the TPL only policy online. Also now the Insurance companies cannot deny a TPL only policy.

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Hon’ble Supreme Court Committee on Road Safety had directed the States/Union Territories to periodically carry out checks to see whether the vehicle owners have Third Party insurance cover and in case they are not covered by Third Party insurance, detain the vehicle till such time the valid Third Party insurance certificate is produced by the vehicle owner. Several States have reported back that insurers have a cumbersome process that involves inspection of the vehicle concerned and that vehicle owners have complained that it is not an easy process to obtain insurance.
With an objective to ensure ease of obtaining Motor TP liability only policy, insurers are advised to follow the following vis-à-vis issuance of Third Party insurance coverage:
(1) Insurers shall make available to the proposers, on-line channel as well, to obtain Motor Third Party liability only policy.
(2) Insurers shall also liaise with the police authorities to facilitate issue/renewal of Third Party liability policy to owners of the vehicles who are not having Third Party cover.
(3) Insurers shall ensure the easy availability of Motor TP Insurance and in no case can a request for a TP cover be denied.
All the Insurers are advised to strictly comply with these directions

https://www.irdai.gov.in/ADMINCMS/cm...age=PageNo3356

Isn't it already available? I recently took a third party policy for my FIL's Santro from Policy Bazaar on December 24th.

The previous third-party policy was expired few weeks back so when I pointed that out, the customer support executive informed me that if I am taking the third party only policy, they can issue it instantly (without any physical checks of the vehicle).

Policy Bazaar gave me multiple options to choose from and went with United India Insurance.

--Anoop

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Originally Posted by yash2424 (Post 4332990)

Is this new? I remeber buying a TP Insurance for my Hayabusa online almost 2 years ago. They directly sent it home.

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Originally Posted by ksameer1234 (Post 4332997)

I bought third-party insurance for my 8-year old Discover online through policybazaar. Isn't this how it happens?

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Originally Posted by theexperthand (Post 4333001)

Isn't it already available? I recently took a third party policy for my FIL's Santro from Policy Bazaar on December 24th.

--Anoop

Has it got something to do with a person only going for TP policy without insuring his vehicle??. I am not sure we can get only TP policy without insuring our vehicle. Have to check the details.

Interesting - I too had got my TP policy online without any inspection. Maybe this is just to ensure that every single provider of motor insurance now provides TP cover online.

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Originally Posted by vamsi.kona (Post 4333026)

Has it got something to do with a person only going for TP policy without insuring his vehicle??. I am not sure we can get only TP policy without insuring our vehicle. Have to check the details.

TP insurance cover is the only one required by law (when people are fined for driving without insurance it means driving without TP insurance). First-party insurance is totally optional, and is not covered by law.

Look at it like this - the law ensures that if I hit you with my vehicle, I have some insurance to cover your damages (i.e. TP cover). The law doesn't care whether I have insurance to cover my own vehicle's damages (i.e. FP cover), that's my own problem.

Why would 3rd party insurance cover require inspection?
Only the comprehensive cover warrants a thorough inspection of the vehicle being insured.

As a side note, I have been buying 3rd party cover for my car for the past decade via online means only. No one comes to inspect it (what are they going to inspect anyway?) I just need to send the RC, driving license copy etc. documents.

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Also now the Insurance companies cannot deny a TPL only policy.

I think this is important. So many insurance companies in India but only 2-3 provide "3rd party only" insurance.

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Originally Posted by arunphilip (Post 4333085)

Interesting - I too had got my TP policy online without any inspection. Maybe this is just to ensure that every single provider of motor insurance now provides TP cover online.

TP insurance cover is the only one required by law (when people are fined for driving without insurance it means driving without TP insurance). First-party insurance is totally optional, and is not covered by law.

Look at it like this - the law ensures that if I hit you with my vehicle, I have some insurance to cover your damages (i.e. TP cover). The law doesn't care whether I have insurance to cover my own vehicle's damages (i.e. FP cover), that's my own problem.

That has always been my position with regards to insurance. But I have never seen a insurance quote without already including cover for the vehicle. Probably this judgement was to put that practice to rest.

PS: With regards to renewal online without inspection, inspection is generally asked only if the current policy has lapsed.

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Originally Posted by ghodlur (Post 4332221)

Also now the Insurance companies cannot deny a TPL only policy.

I think, this is very important. Earlier I have experienced that certain insurance companies have denied me the option of buying a TP only policy. In fact, they even told me that they do not sell TP only policy at all. Now this order will help rest all the doubts.