What is the typical limit of cover for third party property damage under a motor car policy?

The typical limit of cover for third party property damage under a motor car policy is indeed often set around 20 million. This amount is common in many markets and reflects a balance between providing adequate coverage for potential claims arising from property damage caused by the insured vehicle and considerations of affordability of premiums for policyholders.

In the context of motor insurance, third party property damage refers to damages to someone else's property resulting from an accident involving the insured vehicle. Insurers set these limits based on risk assessments and regulatory requirements, aimed at ensuring that drivers can effectively cover damages they may inflict on others, thereby promoting responsible driving.

Higher limits, such as those approaching 30 million or 40 million, may exist in some specific policies or regions, but they are not the standard for most typical motor car policies. Moreover, the option of 10 million is generally below the expected norm for comprehensive coverages. Overall, 20 million represents a standard threshold that offers a reasonable level of security for both insurers and policyholders within the framework of motor insurance.