There are several things that you need to consider while choosing a car insurance scheme. One of them is deciding whether to choose a comprehensive car insurance scheme or a third party car insurance scheme.
Comprehensive car insurance
This extensive insurance offers end-to-end coverage and overall protection against damages to car, theft, legal liability to a third party and cover for personal accident cover.
Benefits of comprehensive insurance
Comprehensive also known as “other than collision” includes coverage for: theft, vandalism, glass damage, fire incidents, floodwaters, damage sustained due to natural disaster and damage to third party.
Third party car insurance
This offers cover against any legal liability to a third party caused when you are at fault. It covers any damage or injury caused by the insured, to another person or property.
Benefits of third party insurance
This covers the owner in case of any legal liability owing to death or injury to individual or damage to property caused by the insured vehicle.
Difference between comprehensive and third party insurance
Value of the car: If the value of your car is low, it is better to take third party motor insurance since it is cheaper to pay for repairs than pay for high premiums.
Coverage: A comprehensive policy provides coverage for yourself and your vehicle.
Expense: A comprehensive cover is more expensive than a third party cover.
