Motoring corner With Carlover

“Third Party Vs Comprehensive Insurance Cover” Car insurance is a very controversial issue, many people never realise the benefits of having or the demerits of not having it. What is the difference between third party insurance and comprehensive insurance? Your vehicle may well be one of the most valuable assets you own. So you want to make sure that, you are covered. But why do you need two types of car insurance? To many people, their vehicle is their pride and joy. For others, simply a way of getting from place to place, full stop. Whatever it is for you, you need the peace of mind of insurance. So, what are your options, and why should you choose them? In most countries (may be all) Third party cover is compulsory. As the name suggests (Compulsory Third Party), CTP insurance is compulsory. You cannot register a vehicle in some countries unless you have it. In the USA, it is provides as part of your registration fee. In some countries however, you are required to organise this with an insurer prior to registering your vehicle. ýWhat is covered? Under the Compulsory third party, insures you or any other driver of your vehicle against liability for death or injuries you may inflict on other road users as a result of a motor vehicle accident for which you or the driver of your vehicle are at fault. Coverage extends to passengers of all vehicles involved in the accident, pedestrians and cyclists. This is a type of third party personal injury insurance. It does not, therefore, cover injuries sustained by you or the driver of your vehicle and it does not cover any property damage you may cause through the use of your vehicle. While your CTP insurance does not cover you for injuries you might sustain in an accident that was your fault, some CTP insurers including Allianz offer additional At Fault Driver Protection Insurance to their CTP customers at no extra charge. At Fault Driver Protection Insurance provides prescribed benefits to you or any other driver of your vehicle for certain severe injuries sustained in an accident that was your fault. In a number of countries, Third Party Insurance is getting more innovative. CTP covers injuries caused to other people in an accident, but not damage caused to their property or vehicle. The costs of repairing damage could be substantial - especially if the vehicle or property is quite valuable. Third Party Insurance provides some additional peace of mind, and comes in two options. The first is Third Party Property Damage. This insurance provides cover or loss against someone else’s property. For a little more protection, the second option of Third Party Property, Fire and Theft Insurance adds cover in the event of your vehicle being stolen or catching fire. What is Comprehensive Car Insurance? Comprehensive Insurance covers damage to your vehicle, loss of your vehicle or property, theft and damage to other people’s property such as their vehicle. It also comes with additional benefits such as car hire if your vehicle is stolen, towing after an accident, a new replacement vehicle, trailer and caravan cover, emergency repairs, and much more. Better safe than sorryNo-one expects to be in an accident, and it may well happen at the worst possible time, financially. If you really want peace of mind, you should take out Third Party or Comprehensive insurance to cover your vehicle. motoringcorner@live.co.uk

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Motoring corner With Carlover