Car insurance is a compulsory for all vehicle owners in order to get your car road tax and drive your car on the road legally. Of course, by having this rule, you can also be rest assured that you car is being covered by insurance company. Since it’s a must therefore many purchase the policy without having the knowledge about what types of car insurance there are in the market and what does each type of car insurance cover. There are mainly three types of motor insurance that are widely available in the market. Let’s check them out below:
- Third party
This is the most basic insurance cover that any vehicle would require to be able to drive legally on the road. As the name of the plan suggests, it covers only third party (other persons) but not you and your vehicle. It covers you against claims for injuries/death of the third party (other persons), including any damage/loss to their vehicle. However, if your car is badly damaged after a road accident and you would like to claim insurance for your loss, this insurance cover is not applicable. Since it covers only third party, therefore it’s the cheapest among all three types of the insurance plan.
- Third party, fire and theft
Similar to the third party insurance policy, this plan includes you against claims from third parties from bodily injury, death, and loss or damage to their vehicle. In addition, you are also covered if your vehicle is stolen or damaged in a fire.
This car insurance policy covers all of the above, and more. Added to the third party coverage, and fire and theft protection for you own car, you will also be protected for any accidental loss or damage occurred to your vehicle.
This is the most popular motor insurance policy in the market especially if you own a relatively expensive car, or for anyone who would want to fully insure their vehicle against any unforeseeable events. In fact, if your car is still under a hire purchase from the bank, you are obliged to get a comprehensive motor insurance policy for the vehicle.
|Types of Motor Insurance||Third party bodily injury/death and loss/ damage to third party property||Loss/damage to your vehicle due to fire or theft||Loss/damage to your vehicle due to an accident|
|Third Party, Fire and Theft
To renew your car insurance or check for quote please call 012-4885711 or contact us here.