Opting for an auto insurance coverage is always a wise decision considering the rising number of vehicle accidents these days. In addition, persistent use of a vehicle results into frequent breakdowns. An auto insurance coverage will certainly help you recover any financial losses due to any accident or major mechanical problem. For firms who manage a large fleet of vehicles it is highly recommended to get their vehicles insured to avoid any major losses. However, one might face confusion when it comes to selecting a particular insurance coverage, considering the range of options available.
Different types of auto insurance coverage are available which fulfil different requirements. Following are some of the popular types of insurance coverage options available.
Third Party Auto Insurance Coverage
This is one of the cheapest insurance covers available. Such insurance policies are perfect for small scale firms and average consumers. However, this particular insurance policy covers only accident cases in which you were responsible for the accident. You cannot claim insurance for any other issues. Usually, consumers who have an old or inexpensive car opt for this particular insurance coverage.
Comprehensive Insurance is basically a full coverage policy. Several topics are included under this particular insurance policy. Some of the points covered under this policy are as follows:
Damage to your vehicle
Therefore, you can get a complete coverage with this particular insurance policy.
Third Party Fire and Theft
As the name suggests, this insurance policy provides coverage in case of a fire or theft. It is somewhat similar to the comprehensive insurance coverage policy. This insurance policy also offers coverage in case of any accident. However, the policy clearly states that you will only be covered when you are at fault during an accident. In short, you will not be covered if another driver collides with you.
Specialized Auto Insurance
This insurance policy is especially meant for vintage vehicles. It is similar to the comprehensive auto insurance coverage.
Browse through all the available options and only then select an auto insurance coverage that’s best for you.