Personal Use Car Insurance and Other Aspects of Vehicle Cover.
The amount of vehicles on our roads increases the chance of motorists being involved in car accidents. Personal use vehicle cover can insure you should that happen.
The high rate of hijacks on a daily basis further increase the odds of becoming a victim of crime. These two factors alone makes car cover vital.
People who are about to buy their first car might wonder what type of car insurance is right for them.
So here are the various types of car insurance available in South Africa.
Car Insurance Cover and Personal Use Vehicle Cover
The best way to figure out what car insurance is all about is to learn bout the different types of car insurance cover that is available.
The types available in South Africa are Comprehensive car insurance, Third Party Only and Third Party, Fire and Theft insurance.
This insurance covers you if the following affects your vehicle:
- Natural disasters, for example, tornadoes, floods and hail,
- Hijacking and theft,
- Damage or loss due to an accident and
It also covers claims submitted by a person to whom you are liable for damaging their vehicle.
Third Party, Fire and Theft Cover
This type of policy covers the same cover as the comprehensive insurance excluding accidental damage to your vehicle.
What this means is that if you should personally and accidentally damage your car or be involved in a vehicle accident. You would be liable for the replacement or repair costs for your personal vehicle.
Third Party Cover
It’s by far the cheapest insurance you can get. It only covers damages you cause to another person’s vehicle.
This policy also covers the costs of an accidental injury or for the death of someone else who was involved in an accident caused by you.
Please take note
Policies with a monthly contribution that is lower than should you have elected the more expensive comprehensive cover, need to be deliberated very carefully.
While the monthly contribution may be lower, should your vehicle be written off in an accident, the expenses will have to be borne by you?
If at all possible, it is advisable to consider the additional benefits that usually accompany a policy of a higher monthly premium, as a comprehensive policy, to safeguard yourself.
Determination of Car Insurance Monthly Contributions – Personal use vehicle cover
Various factors account of which a few are things like the type of car you possess. Your driving and car claim history and your age.
As mentioned, the most expensive car insurance is a comprehensive cover. And the reason for it is due to it making provision for a broad range of cover.
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