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Car Insurance: What You Need To Know About Third Party Coverage

Updated: Dec 6, 2021

Are you aware of the different levels of coverage that your car insurance policy covers? There are three basic levels of coverage; each one provides greater protection for both the owner of the vehicle and the possible victims of the car accident. Although the law requires at least a third party insurance coverage, you may always opt to have greater protection for yourself. After all, you are buying car insurance to ensure that you get all the necessary medical and legal help that you need whenever the time comes.

What is third party insurance?

When you get into an accident, your car insurance mainly covers your medical needs as well as the car services needed to get your vehicle back in shape. In addition to that, it includes the third party insurance. This means that the car insurance company will also cover the cost of any damages that your car accident may have caused a third party. Such coverage includes the medical needs of people who may have gotten hurt during the accident and the damages to the property of others.

Is third party fire and theft coverage necessary?

The decision depends on several factors that you need to consider. Insurance advisors would recommend that you get the new third party fire and theft coverage if you don’t have a properly structured garage where you can safely. Moreover, if you take your car tolong trips for work on a regular basis, then you should add this to the list. If you are not sure whether this coverage is necessary, talk to a financial advisor you can trust. They can help you make the right choice.

Should a fully comprehensive insurance be better?

There is no doubt that a fully comprehensive insurance coverage is the better option, although many may think otherwise because it costs more. This type of coverage includes the injuries you incur as well as the damages to your vehicle even if you were the one who caused the accident. Remember that the primary insurance only covers the injuries and the damages that may be caused by another vehicle. In the case of comprehensive insurance, it does not matter who caused the accident. You’ll get both medical and legal help whenever necessary.

Find out more about the right car insurance coverage to get by talking to your insurance advisor today.

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