What kinds of risks are covered under a third party policy?
The risks covered by this Third-Party policy include:
- Death or injury to a third-party
- Damage of third party property
In insurance, there are two main parties involved- the insurer and the insured. If the damages and loss occur to anyone else other than the insured, it constitutes a ‘third-party’. In order to protect their finances when such damages occur to the third-party, the insured buys a third-party commercial truck insurance plan. As such, financial liabilities arising out of damage to a third-party, including damage to third-party property or vehicle and harm to a third-party individual are covered.