 |
| Four Different Types of Car Insurance Policies |
Four Different Types of Car Insurance Policies | insurance-1st.blogspot.com
Nowadays car insurance is the ideal way to ensure a good life for yourself and your expensive vehicle. Car insurance keeps safe your huge amount of money spent on your automobile. But on the same hand, car insurance is also quite expensive. In addition to the Compulsory Third Party Insurance, there are four different types of car insurance covers available.
Nowadays car insurance is the ideal way to ensure a good life for yourself and your expensive vehicle. Car insurance keeps safe your huge amount of money spent on your automobile. But on the same hand, car insurance is also quite expensive. In addition to the Compulsory Third Party Insurance, there are four different types of car insurance covers available.
Different Types of Car Insurance
1.Fully Comprehensive Car Insurance Policy Types
Comprehensive car insurance is an insurer’s most extensive policy. It is also the most commonly held policy in US. This types of Car insurance covers you for most damages done to your car as a result of collision, flood, fire, storm and theft. It also includes cover for damages to other people’s car and property as a result of a collision involving your car.
Though this types of Car insurance policy is the most expensive one yet it is the most widely adopted type of car insurance. This is so because the insurance provides compensation or covers all sorts of cases such as theft, accident, wear and tear etc. If unfortunately an accident occurs where you were not at fault while the other driver who did the accident does not disclose his and his insurance details; you ought not to worry. For being a policyholder of the fully comprehensive program, you can register an insurance claim against your car insurance company. But while taking this policy one essential thing should be borne in mind.
Though this types of Car insurance policy is the most expensive one yet it is the most widely adopted type of car insurance. This is so because the insurance provides compensation or covers all sorts of cases such as theft, accident, wear and tear etc. If unfortunately an accident occurs where you were not at fault while the other driver who did the accident does not disclose his and his insurance details; you ought not to worry. For being a policyholder of the fully comprehensive program, you can register an insurance claim against your car insurance company. But while taking this policy one essential thing should be borne in mind.
There are a few car insurance companies that do not insure your vehicle 100% of its value but of 80% or so. Even though many companies defend their policy as a measure to prevent themselves from fraud cases etc. yet try your bets to find the agency that insures your vehicle 100%.
2.Third Party Fire and theft Insurance Cover
This types of Car insurance policy will cover the damage to your car as a result of fire or theft as well as provide coverage for damages caused by your car to other people’s property. This type of insurance is basically meant for those car owners who have had finished their car loans but still admire, cherish their car and have great sentiments attached to it. This policy is somewhat akin to the fully comprehensive one but not identical to it. For like the latter the former covers cases of theft, accident, fire etc. but in case of an accident you can receive compensation only when you were at fault and had hit another car. So if any other car hits yours or you by mistake bang t in the garage, the insurance company will not come to your financial aid.
3.Third party property damage Insurance Cover
3.Third party property damage Insurance Cover
After the CTP this is seen the minimal non-compulsory policy. It will cover you for the damage caused by your car to other people’s property. Even if you do not think that your car is worthy of insuring taking out this policy will cover you for the damages bill if you collided with a luxury car, a bill potentially worth thousands.
Third Party property damage is the insurance that is the cheapest of all and covers only cases of accident where you were at fault and hit a third party. The insurance company is not to be contacted in case of any other mishappening with your vehicle. This insurance policy is generally preferred by those who own an old and less pricey car or any other vehicle.
4.Specialized Car Insurance
This types of Car insurance basically for cars categorized as classic car, those that are 25 years old. These classic cars are insured as classic and so accordingly they have their requirements and services. The classic car insurance policy can be said to be as good as the comprehensive one but the only drawback associated with it is that it limits the policy taker to a limited number of road miles he can drive in any given year.
Ultimately it is at the discretion of every individual which policy he desires to take. It is advisable to sort out one’s requirements and budget and also make a survey of the car insurance policies in the market before actually grabbing a policy. If you don’t currently have car insurance, it’s crucial to get coverage as soon as possible. Get a free quote for the types of car insurance listed above so you're protected from the unexpected.
Ultimately it is at the discretion of every individual which policy he desires to take. It is advisable to sort out one’s requirements and budget and also make a survey of the car insurance policies in the market before actually grabbing a policy. If you don’t currently have car insurance, it’s crucial to get coverage as soon as possible. Get a free quote for the types of car insurance listed above so you're protected from the unexpected.
0 komentar