An insurance policy purchased for protection against the actions of another party.
it compensates for any damage done to the third party as result of the first party.
Third Party Insurance basically covers for: personal injury- liability for accidental damage to third party.
Third Party Insurance provides some additional peace of mind, and comes in two options
Third-party insurance is purchased by the insured (first party) from an insurance company (second party) for
protection against another party's claims (third party).