The insurance can be taken on all types of vehicles including private cars, commercial vehicles, motorcycles and trailers. Where cover is on a “Comprehensive” basis, the insurance covers the risk of fire, theft, accidental collision and malicious damage. It also covers liabilities to third parties for injuries sustained or damage to third party properties as well as cost of towing the vehicle to the nearest repairer following accidental damage.
Third-Party insurance provides for both the risk of liability to third parties for injury as well as damage to third-party properties only.
However, a “third party, fire and theft” insurance can also be granted where in addition to the risk of liabilities to third parties, the risks of fire and theft are also covered.