What is Third party Insurance?
3rd Party Car insurance insurance in Bangladesh its a common phenomenon. Insurance policy is an evidence of agreement between two parties the 1st party is Insurance Company and the 2nd party is vehicle driver. 3rd party is not engaged in the agreement concerning the driver and the insurance provider.
Insurance coverage confirms that the insurer will compensate losses incurred by the driver towards losses the driver may bear due to a claim by a third party. Basically If there is an occurrence relating to you, a different person if they were driving your car, third party car insurance will give you cover for any claim that may be made towards your insurance.
Insurance coverage confirms that the insurer will compensate losses incurred by the driver towards losses the driver may bear due to a claim by a third party. Basically If there is an occurrence relating to you, a different person if they were driving your car, third party car insurance will give you cover for any claim that may be made towards your insurance.
Importance of 3rd Party Car Insurance in Bangladesh:
In Bangladesh Road Traffic Act confirms Road users must be insured by a certain minimum level of insurance. You must have a 1st party or 3rd party insurance for you vehicle to drive in a road. In Bangladesh 3rd party insurance is a common phenomenon for any kind insurance specially Vehicle insurance. 3rd party insurance is an inexpensive insurance, that's why people like to do this insurance. 3rd party insurance in Bangladesh cannot able to help any vehicle owner to get financial benefits when her vehicle theft by thief or any accidental destruction. In Bangladesh 3rd party car insurance only help you to passing the road when vehicle checked by traffic police. Bangladesh insurance company only 20,000.00 Tk. pays against any kind of third party car insurance claim.
Needed Information for 3rd Party Insurance In Bangladesh:
If you like to insured your vehicle with 3rd party insurance, then you must need to have some information, Such as follows-
- Name and Address of the Insured.
- Description of Vehicle (Type of vehicle).
- Full Insurance Value(Not Needed For 3rd Party Insurance).
- Registration Mark and Number.
- Vehicle Chassis Number.
- Vehicle Engine Number.
- Vehicle Manufacturing Year.
- Vehicle CC (Cubic Capacity)
- Vehicle Seating Capacity.
- Limitation of Use(Private or Commercial)
Premium Calculation about Third party car insurance in Bangladesh:
Third Party Insurance premium in Bangladesh totally depends on Vehicle specification, Such as Vehicle CC, Passenger capacity, Vehicle use private or commercial, Goods loading Capacity and many more Specification. Now I give one private used car insurance premium sample-
Private Used Car 3rd Party Insurance Premium | |
Basic Premium | 250/= |
04 Passenger (45x4) | 180/= |
Driver | 30/= |
Net Premium(250+180+30) | 460/= |
Add. 15% Vat | 69/= |
Total | 529/= |
Note: If any one need more information about 3rd party insurance in Bangladesh you can comment this post also you can contact this insurance agent number +8801720-054440 for details.