Third party liability is insurance for any passengers that you have in your vehicle.
If you have an accident and it's your fault, they can sue your insurance for up to $1,000,000. If you don't carry passengers in your vehicle very often, or if you never leave "Town" and take a chance of putting your passengers in any situation that is going to be a "Serious" accident, you could consider lowering it to $500,000. The only thing is, if you are ever in a serious accident any they sustain serious injuries that are worth more than that $500,000, they could sue you personally for monies owed above that amount.
With the private insurance here in NS, you should always shop around for a better price that may be available. You never know, you could save some money. When I first started as a courier, every company I got a quote from wanted approx. $4200 a year, but I was determined and ended up finding one for $3200. That's a serious amount cheaper.
Later...
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