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How To Choose The Right Level Of Coverage For Your Car

Updated: Dec 6, 2021

Everyone who wants to own a vehicle is legally obliged to buy car insurance. There are various considerations to make before you find the right policy that best fits your needs and covers the risks that you may find yourself in. In fact, most insurance experts qualify that car insurance may be classified into three distinct levels and the most comprehensive one is usually the most affordable. It pays to know what you need and what you can afford.

What Type Of Car Insurance Do I Need?

Your need for coverage may depend on how often you use the vehicle and for what. Yes, you are legally bound to buy at least the most basic of insurance policies. It is often referred to as the third party insurance. This type of insurance covers the damages that an accident may incur on the third party. Even if you don’t drive the car, you must have this insurance, at the least. Perhaps the only time you are excused from buying car insurance for your vehicle is when you officially register your car as off the road. Even this will come with a certificate.

What Are The Three Levels Of Car Insurance?

·         Third party insurance

·         Third party, fire and theft car insurance

·         Comprehensive car insurance coverage

What’s The Difference Between These Three?

The third party insurance is the most basic you need to buy. This coverage includes all the other people and properties involved in the accident except you. If you have injured somebody during a crash, their medical expenses will be covered. But if your car gets damaged or stolen, you will have to pay for everything yourself. Although at a glance, this type of insurance may be the cheapest, but not in the long run.

A third party, fire, and theft car insurance is much like the first level insurance because it only covers other people. The only difference between the two is that it includes damages to your vehicle. It also covers the replacement of your car in case it gets stolen.

Fully comprehensive insurance coverage is the highest level of all types of car insurance. In the beginning, it seems like it’s the most expensive, but in truth, it is actually where you can get all the savings. With this insurance, you can claim for:

·         repairs to your vehicle after the accident

·         accidental damages

·         vandalism to your car

Whichever you end up choosing, it is best to consult with an insurance advisor. They can help you calculate your risks and decide on the best policy that will cover all your needs.


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