Every vehicle or automobile owner knows the importance of insuring his or her vehicle or automobile but the funny thing is that many think they can side track it or that sometimes, you can do with it and other times, you do without it.
All automobile owners know as well that there are two mojor types of auto insurance underwritten by all registered insurance firms, insurance brokers, banks that undertake some insurance activities, etc. The two majors are third party and comprehensive auto insurance.
When you take up third party auto insurance, this means that for any reason your automobile is involved in an accident, either by fire or you are driving alone and had an auto crash, you stand to get nothing from the insurance firm where you automobile is insured. The only time something may come your way is when you hit someone's automobile. In this case, the automobile of the person you hit will be repaired by the insurance firm where you automobile is insured only. Many people prefer this because of the small amount of money involved but I cannot condemn them because they have their reason for doing that.
The next one is the comprehensive auto insurance, which is a complete auto insurance package. This package takes five percent (5%) of the cost of the automobile but the good thing is that if your automobile is involved in any accident - fire or auto crash, you will not loose much. If your automobile is burnt by fire, it will be replaced for you. If it is accidented and the damage is not much, it will be repaired but if it is damaged beyond repair, it will be replaced and if any other vehicle is involved, that will be repaired.
You need to bear in mind that whenever two automobiles are involved in an accident, the insurance firms that registered them would first determine who is at fault or who caused the accident. Determining this will help them to know their levels of involvement in salvaging the situation.
One good thing the insurance firms now do is that when you insure your automobile the comprehensive way, they install auto track in it free of charge. This helps them track the automobile in case of theft because normally, when an automobile is stolen and cannot be recovered, the insurance firm that did the underwriting replaces it.
For third party, when an automobile is stolen, there is no replacement. Everything in third party auto insurance is for the next automobile involved in an accident.
Bearing all this in mind, I advice that whenever you buy an automobile and wants to insure it, please make a right choice and avoid making a mistake you will regret later.
Do have a great day.
All automobile owners know as well that there are two mojor types of auto insurance underwritten by all registered insurance firms, insurance brokers, banks that undertake some insurance activities, etc. The two majors are third party and comprehensive auto insurance.
When you take up third party auto insurance, this means that for any reason your automobile is involved in an accident, either by fire or you are driving alone and had an auto crash, you stand to get nothing from the insurance firm where you automobile is insured. The only time something may come your way is when you hit someone's automobile. In this case, the automobile of the person you hit will be repaired by the insurance firm where you automobile is insured only. Many people prefer this because of the small amount of money involved but I cannot condemn them because they have their reason for doing that.
The next one is the comprehensive auto insurance, which is a complete auto insurance package. This package takes five percent (5%) of the cost of the automobile but the good thing is that if your automobile is involved in any accident - fire or auto crash, you will not loose much. If your automobile is burnt by fire, it will be replaced for you. If it is accidented and the damage is not much, it will be repaired but if it is damaged beyond repair, it will be replaced and if any other vehicle is involved, that will be repaired.
You need to bear in mind that whenever two automobiles are involved in an accident, the insurance firms that registered them would first determine who is at fault or who caused the accident. Determining this will help them to know their levels of involvement in salvaging the situation.
One good thing the insurance firms now do is that when you insure your automobile the comprehensive way, they install auto track in it free of charge. This helps them track the automobile in case of theft because normally, when an automobile is stolen and cannot be recovered, the insurance firm that did the underwriting replaces it.
For third party, when an automobile is stolen, there is no replacement. Everything in third party auto insurance is for the next automobile involved in an accident.
Bearing all this in mind, I advice that whenever you buy an automobile and wants to insure it, please make a right choice and avoid making a mistake you will regret later.
Do have a great day.
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