Different Types Of Vehicle Insurance Policies Defined
With the traffic level on our national highways and byways and the quantity of reckless drivers on the roads no individual should be without some type of vehicle insurance You are prone to having an accident from the time that you drive your brand new motor vehicle off the shop floor and driving a vehicle without insurance is therefore not the sensible thing to do.
May individuals are of the opinion that vehicle insurance is too expensive and that it makes more sense to take a chance on the road than spending a small fortune on car insurance premiums every month. With the wide variety of insurance agencies competing for the same clients, this scenario is changing – to the benefit of the clients There are numerous policies to pick and choose from, which range from a “pay as you go” policy like the hollard pay as drive insurance policy, to fully comprehensive insurance policies, each with different conditions, added benefits and pricing. Let’s look at some of the different types of car insurance policies that can be acquired:
3rd party insurance. This is the most basic type of insurance coverage and therefore the most inexpensive policy. If you are in an accident which you caused and the other party’s car is damaged, third party insurance will pay to fix that car. With third party insurance it is important to remember that the insurance only covers the other person and their vehicle – your damages will therefore be for your own account.
3rd party plus fire insurance. This insurance policy is very similar to the policy above, but will also provide cover in the eventuality of a fire.
Pay as you drive insurance. hollard pay as drive insurance is an example of a pay as you drive type of policy. Some insurance agencies realize that not all individuals travel equal distances on a day to day basis, and for that reason it does not necessarily make sense that all customers are charged the same for their premiums. The less you travel, the lower the risk to the insurance provider, the lower the premiums.
Comprehensive insurance. This term can be quite confusing as not all comprehensive insurance policies are in fact comprehensive The term “comprehensive” means that everything will be covered, but this is not always the case. Some comprehensive insurance plans will offer roadside assistance while others won’t. Other policies will supply you with a rental vehicle when your vehicle is in for repairs while others won’t. Do not believe that because your policy says “comprehensive” that all the bells and whistles will be included Make sure to go over the stipulations of the policy with an agent or agent.
Ensure that you obtain a car insurance policy without delay Choose from the range of options above – if you travel a lot a comprehensive insurance policy might be your best choice while hollard pay as drive insurance will be suitable for the individual that only travels short distances once in a while.
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