Author: Ellebr
Source: articlerich.combr
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As you go around hunting the auto insurance policy which covers the most and costs the least, it may be important for you, especially if you are a greenhorn in insurance buying, to know the types of insurance for your car. Basically there are four: Comprehensive Auto Insurance, Third Party, Fire Theft, Third Party Car Insurance, and Specialized Car Insurance.Fully Comprehensive Auto InsuranceFully comprehensive auto car insurance, as the name says, provides a wider range of coverage and summons the most costly rate. But despite being the most expensive, it is the most common policy for cars, since most cars under financing schemes are required to be signed up for fully comprehensive coverage. This is perfectly reasonable since most financing companies want the car to be fully insured against all manner of events – be it an accident to loss.But it is easier to claim for the FC auto insurance, since there is no need to prove fault in making a claim. So, if you are in a no-fault accident and the driver of the at fault runs from you or are uninsured, you can still claim against your insurance company. In the event too that your car falls into theft, a fully comprehensive insurance doesnt limit you from claiming against the insurance company. But do make sure that you have read the fine print in you policy. Most auto car insurance companies do not cover 100% of the value of a car, but instead accepts liability only of up to 80%. This is justified by auto insurance providers as a mechanism to prevent fraudulent losses of cars where the owner of the car either no longer wants the car, or is encountering financial difficulty.Third Party, Fire TheftThird party, fire theft auto car insurance is a type of insurance popular with those who fully own their car but wants to cover a large part of its cars values. This insurance covers the portions that one can normally get too from fully comprehensive auto insurance- such as fire theft.The difference on the other hand with FC auto insurance is that, you can only file a claim from your auto insurance company if you are at fault, and you collide with another car.Take the operative word ANOTHER car. This means that in the event that you hit a wall, or only damage your car, the insurance company will not be obligated to pay. In the same manner, involving yourself in an accident with another car, where you are not at fault would not make your auto insurance company obliged to pay you.Third Party InsuranceThe most basic type is the Third Party Insurance which solely covers accidents where you are at fault, and injure a third party or damage her vehicle. In all other events, the auto car insurance company is not required to make a payment which renders it as the cheapest type of auto car insurance you can purchase. This type of insurance is usually only preferred by car owners whose cars are old and have not much value.Specialized Car InsuranceThis type of insurance specializes on classics or sports cars. It has similar coverage with FC insurance but generally you are restricted to drive at a certain mileage per year, a limit which is not applicable for cars under the FC insurance coverage.br
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