In South Africa, insurance companies offer three different types of car insurance, each providing coverage for different accident scenarios.
Naturally, there is a cost attached to each individual situation This kind of scenario is something that is covered by insurance companies. However, whether you will be covered depends on the type of car insurance
Check out the types of car insurance available for the various accident scenarios.
Comprehensive Car Insurance
As the name suggests, this type of car insurance offers the most extensive coverage. While this makes it the most expensive type, it is often worth it as it covers you in nearly every possible scenario. This cover includes theft and hijacking, damage caused by natural disasters or accidents, and third party claims where you are responsible for the accident.
Third Party, Fire, and Theft
This type of insurance differs from Comprehensive cover
in that in that is does not include accidental damage to your car, in which case you will be liable to pay for the damages. Natural disasters, theft, and third party claims are all covered.
Third Party Only
As the cheapest option
, the only coverage offered is for third party claims. This includes damage to another person’s vehicle, as well as the passengers' related injuries. Accordingly, theft or damages to your own car for any reason are not covered. Third Party Only cover is a good option to consider if your car is paid off, or of a relatively low value.
While the cheapest option is tempting to consider, one must always consider all the factors of a situation before making the decision as it may lose you a fortune paying for damage that wasn’t covered.