Purchasing a car of one’s choice is a major event in one’s life. You have probably been saving up to buy your dream car. And if you have spent your hard-earned money on buying a car, you are naturally planning to get it insured as well. Essentially, car insurance is of two types – comprehensive insurance and third party insurance.
Third party insurance provides your car a cover that insures your liability when you damage another person’s vehicle as a result of a mistake committed by you. The problem with this kind of insurance, however, is that it does not give protection against damage caused to your vehicle. Thus, third party insurance provides a narrow cover as opposed to comprehensive insurance.
Unlike third party insurance, a comprehensive insurance cover gives you protection against damages caused by a third party to your car.
In order to decide the kind of insurance you ultimately opt for, you need to look into some factors. To buy insurance, you need to look at whether your car is new or old. You also need to think whether you need the car for a longer trip or not. If your car is old and you need it to cover shorter distances, a third party insurance cover is a better option.
But if your car is new and expensive and you need it to traverse long distances, you should be having a comprehensive insurance cover for it. This would lend your car, protection from unforeseen incidents and accidents. Besides, it would also provide a safety net for your car.
Firstly, comprehensive coverage is better than third party coverage because it not only provides protection to the car but also lends insurance coverage for injuries suffered by passengers in one’s own vehicle, coverage for injuries suffered by the driver in another’s vehicle as well as coverage for injuries suffered by the passengers in another’s vehicle.
Secondly, choosing comprehensive car insurance is also a more sensible option because it provides insurance cover for all kinds of unforeseen events including theft, vandalism, natural calamities like hurricanes and earthquakes, and fire.
Providing full protection to not just the car but also the passengers seated in the car at the time of the accident, makes the coverage of comprehensive car insurance broad.
Thus, there is no doubt that comprehensive car insurance is better than third party insurance. So go ahead and opt for comprehensive car insurance.