Shopping for car insurance is a real pain, but it is a legal requirement. If you ever get into an accident, heaven forbid, insurance can be a lifesaver. Or can it? The right type of insurance is perfect, as long as it covers your needs. Some plans are as basic as the paper they are written on. Even worse, a lot of drivers don’t realise it until the last minute. And the last minute is too late. To make sure that doesn’t happen to you, take a look at coverages below and what they cover.
Third Party Only
Third party only insurance policies are the most basic policies around. In their most fundamental form, they exist to protect other drivers and motorists on the road. So, any damage that you are responsible for on the road is covered by the insurance company. That means any repairs and medical costs you are liable for are covered, except for your own. Third Party policies are the cheapest, but they not the most thorough.
Third Party, Fire & Theft
Just as above, third party covers any damage, you are liable for. But, with the third-party, fire and theft option, the insurance company will pay out if your car is stolen or damaged by fire. A lot of people prefer just to go with a third party only policies because the chances of your car being stolen or in an arson attack are quite low. But, if you live in a rough neighbourhood, it might be worth paying that little bit extra.
Full Comprehensive Cover
Full comprehensive cover will cover you for pretty much any scenario that occurs while you are driving. As you would imagine, cover for the above is included and any damage to pedestrians and road users. But, the comprehensive cover also covers you for damage that is not your fault. If someone else damages your car or you need medical assistance, your insurance company will come to the rescue. So, if it is your fault, not your fault or if blame cannot be attributed, you are covered. Comprehensive cover is more expensive because the insurance company will pretty much have to pay out if you have an accident. It is up to you, but the full cover is the best option if you can afford the payments.
What Don’t Any Of The Above Cover?
Although the above do cover a wide range of scenarios, they don’t cover every possibility, and that is important to know. For example, if you need a courtesy car or breakdown cover, you might have to pay extra for the privilege. Car insurance also doesn’t cover any personal injury claims. If you do want to take any further action against your fellow motorists, someone personal injury lawyer, is who you need to contact.
For your sake, don’t assume that your insurance covers every eventuality. Take the process seriously and treat it with respect. Every detail from the cost to the type of cover is important and needs to be analysed thoroughly.