LOG inFebruary 12, 2020 • Car Insurance
Comprehensive vs 3rd Party Insurance
Comprehensive vs 3rd Party Insurance – Make no mistake!
Often times motor vehicle owners are faced with the challenge of choosing between a Third Party Insurance Policy and a Comprehensive Policy. While many will go for the cheaper insurance coverage (in many cases, Third Party), remember that the cheapest is not necessarily the best.
Truth is, the cost of Third Party insurance is one of its main advantages. In the case of an accident, where you have caused damage to a Third Party, you will be on the safer side. Rather than you being liable for the damages, the entire amount will be settled by the insurance provider. That sounds good, right? But what if you are involved in an accident that does not involve a Third Party? Or what if your car has been stolen? With Third Party insurance, if you are responsible for the accident, then you are responsible for paying for all the repairs as well. Now, that doesn’t sound so good after all.
Comprehensive insurance, on the other hand, can save you a lot of hassle in the event of an accident. Unlike Third Party insurance, where you can wait for a very long time to get a claim settled, if the vehicle involved refuses to admit liability; with comprehensive insurance, you get full coverage whether or not a Third Party is involved in the accident.
While it is true that Comprehensive insurance policies are more costly than Third Party insurance, there are sites like www.mibinsure.com that offers competitive rates with up to 9 months financing. MIBinsure.com is here to help you in getting the best coverage at cheaper rates. So, the next time you want to insure your motor vehicle, shop around online using MIBinsure.com
Again, don’t just get the cheapest coverage; get the best coverage at a cheaper rate! Here’s a quick insurance tip just for you!
