What is third party insurance policy?

jhon paul

Member
Third-party insurance policy is an insurance policy protected against the claims of another. Third-party offers coverage against claims and damages and the loses incurred by a driver who is not insured the principle and is therefore not covered under the insurance policy.
  • Third-party insurance covers an individual or firm against a loss covered by some third party.
  • The two main categories of third party insurance are liability coverage and property damage coverage.
 

Mandy96

Valued Contributor
I think this the act of obtaining an insurance policy for someone. This will probably has all the regular type of insurance in it, the only difference is that there will be the words “third party” attached to every plan under it. I think this is a good business strategy
 
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