There are various types of insurance policies that can be chosen to protect your car from unseen calamities. Given the wide range of options, it can be sometimes confusing for car owners to make the final decision. Also, there are certain types of policies that car owners might not even know of such as comprehensive car insurance. So what exactly is it?
As the name suggests, comprehensive car insurance policy is the sort of policy that covers your car against almost all the risks that it faces. There are three basic types of comprehensive car insurance policies that are offered by car insurance companies in South Africa.
In case you damage the vehicle of another party, you’ll be liable to pay the person to cover the costs of repair. Without insurance paying a third party after an accident can burn a big hole in your pockets. To prevent such a calamity from befalling you, you must buy the third party property damage policy and leave the rest to your insurance company.
An accident will leave your car damaged regardless of whose fault it is. If the party that you were involved in the accident with does not have an insurance package, as is the case with 70% of vehicles owners in South Africa, you have no choice but to fall back on the financial cushion that your insurance company provides. If you want your financial cushion bring you relief, the third party, fire and theft policy is something that you will have to buy.
This policy is a combination of the two policies mentioned above. Buying this policy will leave you completely covered against all perils that your car is exposed to whether parked inside the garage or cruising in a desert. Those will a good driving record, should go for this because the monthly premium wouldn’t be that high anyway. So why not buy a good insurance policy and eradicate all chances of loss.
There are a number of factors that will help you buy one or more of the types of policies mentioned above. Also, the comprehensive car insurance quote given to you by different companies will depend on two major factors:
The later set of factors should be given considerable amount of time and thought by you in order for you to make a decision that is best for you. Some of the factors upon which you will be judged by are as follows.
The risk that your car faces is in direct proportion to how much it is on the road. Your odometer is witness to how much the car has travelled. A lot of insurance companies have set a benchmark of 7500 miles a year. Those who drive less than 7500 miles a year, are given a premium discount.
There are a number of security devices that can make your driving safer for both you and your car such as airbags, security locks, GPS, etc. The more of these security gadgets your car has, the less prone to risks it will become thereby reducing insurance premiums.
There is a course called defensive driving course. Those who don’t smoke or drink are considered drivers who are less likely to cause accidents. If you pass it, you’re comprehensive car insurance quote will be reduced.
When trying to get a comprehensive car insurance quote from a company, you will have to submit the details of your driving record. Every accident or traffic violation that you have been the cause of will contribute to the increment of the quote given to you by the insurance company.
Comprehensive car insurance policies cover all the risks under the sun but there are a few exceptions and certain conditions that can make otherwise applicable conditions invalid so read the terms and conditions of your insurance company carefully. Doing so will prevent you from indulging in acts that might invalidate the comprehensive car insurance policy that you’ve bought or in failing to do certain things that are compulsory for you as the car owner to take care of.