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.

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.

Different Types of Car Insurance
Different Types of Car Insurance

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

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.

8 Responses to "Four Different Types of Car Insurance Policies"

  1. Hey!
    Useful Article for the Insurance Quotes.
    Thanks For sharing !

    ReplyDelete
  2. We are really grateful for your blog post. You will find a lot of approaches after visiting your post. Now follow-up our keyword cash advance Great work

    ReplyDelete
  3. I am very much pleased with this content thanks for sharing this blog.I appreciate your effort Thanks for sharing this blog.
    Dial to stay updated in the market #7869466071

    ReplyDelete
  4. Cover 360 deals in various types of Insurances like life insurance, health insurance, term insurance etc.

    ReplyDelete
  5. Thanks for sharing the information of the types of vehicle insurance. but how to reduce the vehicle insurance premium?.

    ReplyDelete
  6. Full coverage in most cases is the only way to go unless you're ok with having no coverage on your car if you are at fault. Liability only options provide insurance for uninsured motorist coverage up to $3500. however they don't cover you if you're at fault on your own car, only on the other's car. So full coverage is the way to go when you're needing to have the policy covered for you for at fault and even not at fault accidents this is going to get your whole vehicle covered not just others driving on the road for their liability and property damage. https://www.insurance4lasvegas.com

    ReplyDelete
  7. Nice detail submitted by you Now, I got information of different insurance policies thanks for it
    visit here also Insurance Waley

    ReplyDelete
  8. Take time to educate yourself regarding on vehicle insurance premiums on how you can save money and what best suites you. It don't have to be a stressful experience when choosing car insurance premiums. https://www.ecomparemo.com/vehicle-insurance

    ReplyDelete