There are generally three insurance options available to drivers with varying levels of cover. Let’s take a closer look at the options available for your car and what you should have in place before taking your car on the road.
Comprehensive insurance
Comprehensive car insurance provides protection for your vehicle. It provides cover for events such as malicious damage, storms, fire, flood and theft as well as any damage caused to another vehicle. Comprehensive insurance policies also tend to come with new for old replacement when your vehicle is written off within a certain time period. Just some of the areas your comprehensive policy can include are cover for personal items in the car, access to hire car after theft, cover for baby capsules or child seats, windscreen protection and protection for trailers attached to your car.
Comprehensive car insurance is the highest level of cover when it comes to insurance policies for cars. It’s a particularly important consideration if you’ve just invested in a new car.
The choice is yours when it comes to making a decision about your car insurance but you need to find the right balance between the premiums you’re paying and the level of cover you’re getting. With a more basic level of cover, you will find your premiums are cheaper but there are also restrictions on what you can claim which can leave you more out of pocket in the long run.
Third party fire and theft insurance
Third party fire and theft insurance is an affordable policy that includes some extras for increased protection. As the name suggests, not only does the policy offer the same protection as third party property insurance, it also covers you for some of the more common events such as fire and theft. This policy will often help pay for access to a hire car after theft, emergency repairs, towing and transport of your vehicle after fire or attempted theft, storage costs of your vehicle while your claim is settled and recoding of locks after theft.
This policy is a mid-range option for those who have a car that doesn’t need a high level of cover but still want some additional protection in place.
Third party property damage insurance
Third party property insurance is the most basic level of cover for your vehicle. This policy will protect you financially if you cause an accident with liability protection if the accident causes damage or injury. If you are at fault in an accident this policy will provide protection for the damage you cause to the other vehicle but it can also cover the cost of fixing your car if you’re in an accident with an uninsured driver when the incident isn’t your fault. Given this is a basic level of cover, exclusions apply so make sure you read the Product Disclosure Statement (PDS) so you understand exactly what is, and what isn’t, included in this policy.
This level of cover is often popular with people who have an older car with limited resale value and want to save money on their premiums.
For more information about car insurance visit the website, or contact CGU today on 13 24 81 and we’d be happy to assist.
