Understanding Insurance

By: Kelvin Kiama
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  • Summary

  • What is Third party vehicle insurance?

    • Third-party insurance, which is also sometimes referred to as 'act-only' insurance is a statutory requirement for all vehicle owners as per the Motor Vehicle Act. It is a type of insurance cover where the insurer offers protection against damage to the third-party vehicle, personal property and physical injury.


    • Third Party Car Insurance protects you against legal liabilities in case of an accident. If you are involved in a car accident that resulted into property damage, bodily injury to the driver or any passenger in the vehicle, disability or even death, your insurance company will compensate for it even if you are at fault. Thus, the third party only insurance covers you from financial liability towards a third party whether it’s your fault or not.

    Hosted on Acast. See acast.com/privacy for more information.
    Kelvin Kiama
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Episodes
  • Understand Your Insurance

    Understand Your Insurance
    Feb 10 2022
    On this show we shall discus what you need to know about insurance.

    Hosted on Acast. See acast.com/privacy for more information.
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    11 mins
Marketing Economics
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