- Compulsory third party (AKA CTP / green slip insurance) is the minimal cover that every car must have by law. It provides essential cover against claims for compensation if you injure or kill someone in a motor accident.
If you don't think your car is not worth much you may wish to take out compulsory 3rd party insurance only. Keep in mind that it doesn't cover you for damage caused to other people's property such as if you're unlucky enough to run into a Ferarri.
- Third party property is the least expensive option. It covers you for the damage you may cause to another car and may include limited cover for damage caused to your car by an uninsured driver.
- Third party property, fire and theft also covers you if your car is stolen or burnt.
- Comprehensive car insurance is the best cover option but also the most expensive. It includes the cost of crash repairs or replacing your car, even if you're at fault.
Friday, October 12, 2007
Types of Car Insurance - whats the difference
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2 comments:
Hi,
I would love to exchange links with your site.
I have some finance sites and blogs. Please let me know if you are interested.
Waiting for your reply.
Thanks,
George
georgleon@gmail.com
Apologize for posting link exchange comment here. I haven't got your contact details on your blog that's why posted here. Please delete this comment after checking it.
Very nice blog, chalk me up as a new regular reader.
I run an Australian finance blog over at http://www.pineapplewatch.com, feel free to have a look over and perhaps comment :)
Regards,
Colin
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