When purchasing insurance in the future, you may find that your premiums increase or that you may be refused cover completely. Request a brochure. How exactly do insurance companies come up with your quote, and why are your quotes sometimes higher than your neighbours, when you live on the same street? Read more. A car accident can really knock your confidence so Age Co have provided some ways you can conquer the fear and anxiety you feel while driving.
Back to top. Should I get comprehensive or third party car insurance? What is third party car insurance? Learn more about Age Co and the products we provide. Third party, fire and theft insurance TPFT has the same basic features as third party only, but your losses will be covered in the case of a fire or theft.
Comprehensive insurance includes all of these features as well as paying out for damage to your car in the case of a claim, whether or not you are at fault.
Read our guide for a detailed look at types of car insurance. Traditionally, third party and third party fire and theft cover were much cheaper than comprehensive insurance, but for many this is no longer the case.
In the past, high-risk drivers such as young drivers and those with no experience would opt for lower protection in order to cut their insurance costs, something which insurers have now become wise to. Insurers noted that they were processing more claims from high-risk drivers with third party policies, and associated these policies with a higher crash risk. To illustrate the price differences between the different types of car insurance, we ran some test quotes based on a Ford Fiesta driver living in Coventry :.
Quotes for third party only cover were 3. Insurers said premiums were higher on third-party policies because people taking them out were more likely to make a claim, and to claim higher amounts. Many of them do not have a choice but to take this type of cover. A spokesman for the consumer group Which? However, some insurers may decide to only offer third-party cover to drivers in certain circumstances, including for younger motorists or those with driving convictions. Premiums are also pushed up because there is less competition in the third-party market.
Within minutes you can lose out on one of your most prized possessions. Thankfully though, a comprehensive car insurance can help you in this case by compensating for the loss of the same.
A Breakdown Assistance is one of the many add-ons available in a comprehensive car insurance. But, what makes this add-on special is that it never counts a claim.
Everything loses value over time. This basically means, you can avoid the depreciation on its parts and therefore get more money during claims due to the same!
A comprehensive car insurance does not cover for damages caused due to normal aging and wear and tear of your car. It cannot protect your four-wheeler from the depreciation of the value of the car over time. Damage of vehicle parts which are made up of fiber or rubber are not fully covered within the insurance.
The policy does not cover for damages and losses caused due to a nuclear attack or war. Consequential damages are those that take place after the accident. The main purpose of a Third-Party car insurance is to cover you from losses and damages caused to a third-party due to your own car.
In such cases, your third-party car insurance will cover for the losses incurred. As per the Motor Vehicles Act, every car needs to at least have a third-party car insurance to drive legally on Indian roads. Since at least having a third-party car insurance is mandatory by law, not having one can lead you to pay hefty penalty fines.
Therefore, having a third-party car insurance can protect your pocket from spending on traffic fines! Third party and comprehensive insurance differ from each other regarding their purpose and coverage.
Read the difference between third party insurance and comprehensive insurance:. This is the most basic car insurance plan that only covers for damages and losses your car could cause to any third-party person, vehicle or person.
This is an all-round cover for your car- it only takes care of your third-party liabilities but also covers for you and your own car. Additionally, it also includes a personal accident cover to protect you from personal injuries or death.
The coverage under this is extensive as it not only protects you against damage and losses caused to any third-party but, also covers for damages and losses to you and your own car. For example: If your car faces damages due to the floods in the city, your comprehensive car insurance will cover for it.
It protects both damages to your own car and third-party damages as well. You can customize your car insurance plan by adding specific add-ons and covers such as the zero-depreciation cover, engine and gearbox protection, Return to Invoice, Breakdown Assistance, etc. Cheaper than a comprehensive car insurance policy, the premium price here is predetermined by the IRDAI based on your car cc.
If you are currently driving a very old car, or you rarely drive then maybe having a basic third-party insurance would be sufficient for you. Although slightly more expensive, this plan would give you complete coverage this proving to be more beneficial. Customize your car insurance further by opting for different add-ons and covers that would give your car better coverage.
Note : If you currently have a third-party liabilities policy only that is yet to expire, you can go for a separate Own Damage Only Policy, to get coverage on your own car as well. You should check for your car's IDV You should gauge your car's age and decide on the right addons for your car Depending on the usage of your car you should decide on taking a third party or comprehensive insurance.
If you are not planning to use your car too much, then a third-party car insurance could work, or else it is recommended that you go for a comprehensive car insurance. Doorstep pickup, repair and drop with 6 months repair warranty - for repairs at our network garages. It not only helps you comply with motor rules and laws by covering for third party liabilities but also helps cover damages and losses to you and your own car — which we all know is what all car owners care about the most!
0コメント