Some Common Questions About What Is Car Insurance
What is car insurance? Car insurance is a type of insurance protection for automobiles, trucks, motorcycles, or other road-going vehicles. Its function is to provide financial protection against bodily damage or bodily injury incurred by vehicle accidents. It settles liability costs as well that arise for accidents. It also covers damages incurred by the insured for damages to the other party’s vehicle and personal property. The primary parties in vehicle accident cases are the at-fault driver and the other party, another vehicle, a public place, or a public structure. Coverage provided by insurance companies may vary depending on the type of coverage provided.
In South Africa, there are three basic car insurance policies available in the market. Namely comprehensive, third-party with fire & theft and third-party only cover.
Comprehensive cover is the expensive plan between the three because it includes everything the other two policies include and more.
Third-party car insurance will only settle all the damages done to the third-party property. It will not cover your damages, it will have to come out of your pocket.
Various financial institutions in South Africa can assist you with car insurance. The banks are also offering you the chance to get cover for your vehicle with them, in this case, FNB is willing to assist you.
If you are looking to compare quotes to find the right car insurance plan for you and your motor, then apply for quotes on our page today. We will gladly assist you in your search.