Insurance companies provides information regarding different types of auto insurance available to car buyers. These policies can include physical injury and liability, collision, comprehensive, full glace, liability, medical coverage, personal injury protection, and uninsured motorist.
Car insurance is mandatory, when a person is willing to buy a car. It is considered as violation under the Road Traffic Act to drive car on the public highway without insurance. This is because, while driving car there may be risk of damage to car, to the person and to third parties and their belongings. When trying to buy car insurance, a cheapest insurance cover may emerge like a false economy.
There are three types of car or auto insurance cover:
Third Party: Third party is treated as the least possible legal level of insurance. Third party insurance covers insured person liabilities when there is:
- Injuries to others (to passengers in insured person’s car and other persons not inside insured person’s car).
- Damage to other peoples’ property (the third party’s car, but not insured person’s vehicle).
Third Party, Fire and Theft: This insurance covers all the risks of third party insurance and also includes theft and damage to insured person’s car generated due to theft and fire.
Comprehensive: Comprehensive insurance covers third party, fire and theft risks along with:
- Accidental damage to insured person’s vehicle
- Malicious or mischievous damage to insured person’s vehicle
- Personal accident
- Medical expenses up to certain limit
- Loss of, or damage to, personal property which is being carried in insured person’s vehicle, to certain limit
- New for old substitute in the first year.
- Glass replacement (windscreen, sunroof and windows).
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