There are three types of car insurance available in the South African insurance market. It is known as:
- Third-party only
- Third-party, fire & theft
- Comprehensive cover
Third-party cover is the cheapest coverage that you can have on your automobile. Third-party only, provides for any impairment to other’s car in the occurrence of an accident. But it does not cover any damages you have to your car. It implies that problems with your motor following a collision will be settled out of your pocket.
If you’re touring with a passenger in an automobile and you get into a casualty, third party insurance will also indemnify the passengers for their wounds.
Yes, third-party only insurance is cheaper every month. But, when you are in a serious accident, it might cost you a lot more. Therefore it’s always worth comparing the cost of this type of insurance against the comprehensive cover.
Third-Party, Fire and Theft motor insurance is a basic form of coverage that supplies cover for unexpected impairment caused to another individual’s car. But you do enjoy cover in the event of thievery, hijacking or fire. No cover to damages caused by an accident.
Comprehensive car insurance is often the best type of auto insurance to buy. The name implies that it covers everything, including accidents, fire and theft. If your car catches fire or gets stolen during a hijack or robbery, comprehensive car insurance will provide you with money equal to the value of your motor at that particular time.
While comprehensive coverage will cost you more than other types of coverage, it is still a good idea to get it for your vehicle, even if you only plan on driving a few miles each year. It’s also worth noting that comprehensive insurance will cover you in more situations than collision coverage, like if you are in an accident.
The price of comprehensive auto insurance depends on a few factors, including the value of the car. Your car’s value is a primary factor in determining your premium, so you’ll want to know what it’s worth.
While comprehensive car insurance is not mandatory, it is still highly recommended. It’s worth the extra money to avoid the many unexpected and expensive problems that can arise in an automobile accident.
You can apply for quotes here on our website to make the necessary comparisons. It is the best method in finding the cheapest, yet most suitable cover for you and your vehicle.