Motor Third-Party Liability

Insurance is a way to protect yourself from financial losses. You pay a small amount (called a premium), and the insurance company commits to paying a much larger sum if something bad happens — an accident, illness, fire, or theft. Think of it as a shared fund: thousands of people each contribute a little into a common pool. Most of them will never need it, but those few who do experience a loss will receive money from the pool to cover their damages. Each participant trades a small, predictable expense for protection against a large, unpredictable loss. Insurance doesn't prevent bad things from happening — it cushions their financial impact.