A liability only insurance policy is a basic automobile insurance policy which only covers third party liability which may arise due to the damage caused by your vehicle to any third party or any other property by way of accident. A liability only policy is mandatory for all the vehicles plying on public roads, as per Indian laws.
A liability only policy will not cover your vehicle against any damage caused to your vehicle by way of accident or to claim the cost of the vehicle in case if it has been stolen or if there is any total loss of the vehicle due to accident. So, it is always recommended to buy a comprehensive insurance policy which would cover against all the above said odds.
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