Finance & Loans

Types of Car Insurance That You Can Opt For

There’s no doubt that car insurance plays an important role in the life of a car owner, whether it is the first time that you have purchased a vehicle or you’ve lost count. And the reason for this is because without which you might have to incur expenses other than fuel that can count for a lot.

Yet for a rookie car owner, it can be quite confusing to understand what kind of insurance is available, and which type will suit his needs best without having to spend anything extra that is possible if you do not know what works for you.

So here are the three types of car insurance that can help you decide which one works best for you:

#1: Third Party

This type of insurance is mandatory by law as in the situation where you meet with an accident you will have reimburse the other vehicle’s damages. With this type of insurance, you cannot claim reimbursement for your own vehicle whether it is in an accident or due to a theft.

#2: Third Party, Fire and Theft

In comparison to the prior policy, this one covers not only the other vehicle’s expenses but also your in the case of an accident. What is good about this policy is that your car can be covered in the case of theft and fire.

#3: Comprehensive

This type of insurance covers everything even if you are the defaulter in an accident as well as in the case of theft or fire and so and so forth. Even if you are stranded midway in the middle of nowhere, you will be covered by this type of insurance. Of course, this type of insurance is the most expensive of all.