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Question: What is the maximum claim in case of Property Damage for third party insurance?

Answer: When the beneficiary of any insurance policy is someone other than the two parties involved in the contract (the insurer and the insurance service provider), the policy is known as a third party insurance cover. As far as third party claims are concerned, the insurer’s liability is restricted to a maximum sum of Rs 7.5 Lakhs. As a general rule in third party insurance, unlimited compensation is available only for bodily injury or loss of life.

When the beneficiary of any insurance policy is someone other than the two parties involved in the contract (the insurer and the insurance service provider), the policy is known as a third party insurance cover. As far as third party claims are concerned, the insurer’s liability is restricted to a maximum sum of Rs 7.5 Lakhs. As a general rule in third party insurance, unlimited compensation is available only for bodily injury or loss of life. Source: CoolInterview.com

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