Why is Third-Party Liability Coverage so Important in Car Insurance? скачать в хорошем качестве

Why is Third-Party Liability Coverage so Important in Car Insurance?

Learn about third-party liability car insurance, an important (in fact, mandatory) coverage. LEARN MORE ► View the complete article: https://www.squareone.ca/resource-cen... RELATED VIDEOS ► Drinking and Driving Laws and Penalties:    • Understanding the Laws and Penalties of Im...   ► How Are Car Insurance Premiums Calculated?:    • How Are Car Insurance Premiums Calculated?   ► Busting 12 Common Car Insurance Myths:    • Busting 12 Common Car Insurance Myths   SUBSCRIBE FOR MORE INSURANCE VIDEOS ► Subscribe to Square One's channel and receive notifications for the latest videos about vehicles, interior design, homes, and insurance: http://bit.ly/SubscribeSQ1 ---------------------------------------------------- ABOUT SQUARE ONE Square One is an insurance agency that offers online home and car insurance. By eliminating all unnecessary complexities built into traditional policies, and offering customers a way to get a quote and buy online, Square One makes it easy and convenient for people to personalize their insurance to meet their exact needs. Square One offers home insurance in BC, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec. Car insurance is offered in Ontario and Quebec. GET AN ONLINE INSURANCE QUOTE Get a free home insurance quote from $15/month or a car insurance quote from $120/month (Ontario) or $67/month (Quebec) and buy online in less than 5 minutes ► https://www.squareone.ca CONNECT WITH US ON SOCIAL Facebook ► http://bit.ly/FacebookSQ1 Twitter ► http://bit.ly/TwitterSQ1 Instagram ► https://bit.ly/InstagramSQ1 ---------------------------------------------------- Third-party liability coverage is a mandatory part of car insurance across Canada — you can’t drive without it. Despite that, many people are confused about how it works and how much coverage they actually need. “Liability” means someone’s legal responsibility for damage or injury to someone else. If you hit someone with your car, you’re liable for their injuries. Often, we use the word “fault” in car insurance. Basically, if you’re at fault for an accident, you’re liable for any damages or injuries. Third-party liability coverage (TPL) will protect you by covering legal costs and damages for which you’re liable. The “third-party” means anyone other than the insured person (first party) and their insurance provider (second party). This is important because two family members driving two vehicles insured under the same policy may not have liability coverage if they hit each other. TPL will cover your liability for damage to others’ vehicles, as well as any other physical property. It also covers legal fees and settlement costs associated with related lawsuits. And, it will cover medical costs if you’re ordered to pay them after injuring someone. This aspect is particularly important if you drive outside Canada — many medical costs are covered by public healthcare here, but it’s not true everywhere. Liability coverage doesn’t apply if you’re transporting dangerous materials, like explosives or nuclear waste. If you lend someone your car, your liability insurance will typically cover them — but not in the case of professionals like valets or mechanics. And, most importantly, it only covers up to your chosen limit. For that reason, it’s wise to choose a limit higher than the minimum. In most provinces, that limit is $200,000 — sounds like a lot of money, until the lawyers and legal damages come into the picture. Most providers recommend $1–2 million in TPL coverage. 00:00 Intro 00:22 What is liability? 00:56 Who’s the third party? 01:39 What’s covered? 03:19 What’s excluded? 04:07 How much coverage do you need? #CarInsurance #ThirdPartyLiabilityCoverage #InsuranceTips #InsuranceFAQ