Car Insurance is almost identical to any other insurance policy plan. But it is mandatory that this is related to all kinds of vehicles or motorcycles, unlike another insurance plan. Types of Car Insurance.
What type of Car Insurance do I need?
There are many different types of Car Insurance policies So, choosing the right policy might be difficult.
It may depend on the user what kind of policy is buying. On the contrary, he may sacrifice quality over lower price. These low-price tags may haunt you later on.
That is why it is important to understand all the types of car insurance policies that are available.
Types of Car Insurance:
Types of Car Insurance in Pakistan are:
- Third-Party Fire & Theft
- Third-Party Only
Comprehensive Car insurance:
Comprehensive Car insurance does what it promises. Therefore, it provides users with the most protection available. It covers if your car is damaged, stolen, or destroyed in a fire.
If any of these conditions are fulfilled the car insurance company will provide you with full recompense. It also pays for damage or any injury other people get from your car.
Fully comprehensive car insurance policies Comparison:
In comprehensive policies, no two types of policies are equal. However, there are several elements to a policy that will be different. For Instance, one policy offers you free repairs while the other provides coverage for the windscreen. Other policies may charge more.
- Extra protection might include:
- Personal items that are inside your car
- Cracked Windscreen
- If you have lost your keys
- Replacement loss such as car stereo speakers etc.
Third-Party Fire and Theft:
A level down from comprehensive car insurance is Third-party fire or theft.
Third-party fire and theft offer:
- If your car got stolen, the Insurance company will provide a new car
- It covers repair to the car and other belongings, such as the stereo following damage caused by theft or an attempted theft
- Fire damage to the car whether accidental fires or caused by something
- Compensation if your passengers got injured in an accident involving your car
Third-Party Only Car Insurance:
This policy provides you with the least coverage plan. Third-party only car insurance is not always the cheapest policy offer.
- If the owner has an accident, third-party car insurance will cover any sort of damage to the other vehicles. Second, it covers treatment costs related to injuries of people that are hurt by your vehicle.
- If you have passengers in your car and they sustain any injuries in the accident. Furthermore, this policy provides compensation to your passengers.
What does Third Party Cover:
It is the most basic level of coverage. It protects people, vehicles, and other property in the event of a car accident that was your fault:
- For Example, you drive your car into the rear of another car, causing damage to both of the cars and the driver also.
- Your medical expenses, in this case, will be covered by third-party insurance.