Investopedia

Continue to Site »

Third-Party Insurance

Filed Under »
Dictionary Says

Definition of 'Third-Party Insurance'

An insurance policy purchased for protection against the actions of another party. 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).
Investopedia Says

Investopedia explains 'Third-Party Insurance'

Third-party automobile insurance is one of the more popular types of third-party insurance. Drivers are often required by their state to have adequate insurance coverage to ensure that damages resulting from an accident can be paid for. "Third-party" in the case of automotive insurance would be the driver of the other vehicle, since that person is not the first party (principal) in the insurance policy.

Articles Of Interest

  1.

    Selecting And Managing Insurance Payouts

    Find out which settlement option is right for you before you recieve your funds.

  2. Will Filing An Insurance Claim Raise Your Rates?

    An accident can mean higher insurance costs - even if it wasn't your fault.

  3. Is Your Insurance Company Going Belly Up?

    When insurance companies go bankrupt or face financial difficulty, it's bad news for policy holders.

  4. The Foundation Of Structured Settlements

    This annuitized payment setup should be arranged through impartial attorneys and tax agents.

  5. What changes might I need to make to my insurance policy?

    The number one thing to remember about insurance is that, just like everything else, it changes over time. The top-of-the-line policy that you bought five years ago might not even be available ...

  6. The Beginner's Guide To Homeowners' Insurance

    Discover everything new homeowners need to know before they sign on the dotted line.

  7. Life Insurance Clauses Determine Your Coverage

    Understanding these key parts of your policy will help you to ensure that your family will be covered.

  8. Why would you want a monthly benefit versus a daily benefit?

    An insurance benefit is the amount of money paid to or on behalf of the policyholder. Depending on what kind of insurance policy the policyholder signs up for, the payments are made directly ...

  9. How do I choose which insurance company to use?

    Picking an insurance company to use is not an easy task, considering the financial crisis of 2008 and 2009. Several financial institutions and insurance companies have gone out of business, merged ...

  10. What is an elimination period?

    Elimination period is a term used in insurance to refer to the time period between an injury and the receipt of benefit payments. In other words, it is the length of time between the beginning ...
comments powered by Disqus
Marketplace
Hot Definitions

  1. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.

  2. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.

  3. Icarus Factor

    The term Icarus factor describes a situation where managers or executives initiate an overly ambitious project which then fails. Fueled by excitement for the project, the executives are unable to reign in their misguided enthusiasm before it is too late to avoid the failure.

  4. Angelina Jolie Stock Index

    An index made up of a selection of stocks from companies associated with actress Angela Jolie.

  5. Consequential Loss

    The amount of loss incurred as a result of being unable to use business property or equipment.

  6. Lease To Own

    An arrangement where an individual enters into a lease agreement with an owner with the inclusion of a clause that typically gives the individual the right, but not the obligation, to purchase the item leased at a predefined price and time.
Trading Center