PRESENTATION OUTLINE
Insurance is a financial product sold by insurance companies to safeguard you and / oyour property against the risk of loss, damage or theft (such as flooding, burglary or an accident which you would usually pay monthly and is highly advised to buy.
Third party insurance : In the event of an accident, Third Party will only provide compensation to the driver and passengers of the other vehicle involved in the accident. This means that any damage sustained to your vehicle is NOT covered. There is also no cover provided if your vehicle is stolen or goes on fire. So, as a result, even though you might have this type of insurance, you are still open to a substantial cost for losses to your car.
Comprehensive : A comprehensive policy, which is offered by all insurers, includes third party, fire and theft cover as well as accidental damage to your vehicle. There are many additional benefits to choosing this type of policy such as windscreen repair and breakdown rescue which can be added to your cover.
Third party fire and theft : This type of policy also provides cover if there is any loss in the attempt of fire or theft. With this type of cover, you can avail of extra benefits and add-ons such as windscreen damage cover.
