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Car Insurance explained - Comprehensive Insurance

Atualizado: Mai 17

Did you know that it is required by law that any financed vehicle have insurance?

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Is this because the bank is trying to protect its investment while you're still paying it off pretty much. You don't want to have crashed a car or lost a car have it stolen or any one of the acts of nature that happened and still be held responsible for that car so the

bank wants to ensure that they will get their money back if anything go wrong because it's fair to say that if you financing the car you pretty much can't afford it outright pretty much.


So one of the questions that we get quite often here is what are the different types of insurances and today we're talking about comprehensive insurance.


Comprehensive insurance is a complete cover for the vehicle and this is going to guard it against fire theft complete loss due to accident. It isn't going to cover mechanical issues.

That's why motor plans and service plans and the likes exist but it is going to protect you in the event of an accident. What it's also going to do is it's also going to pay for damages caused by the accident to a third party and the third party is now the person you bump into.


Into all the street light that you happen to take out that's a bit of a tough one.


So it's a little bit of an idea you're driving on the freeway traffic stops. You drive into the person in front of you what is your insurance going to cover in this event. The insurance will cover the damage to your vehicle and the damage to the vehicle that you drove into and you will just be welt liable for an excess. So that's a little top-up amounts and and unfortunate your premiums are going to go up after that with each and every insurance claim and it also puts a mark against your name.


Attention with the insurance policy


So if you can afford to you know if it's just a small bumper bashing and a little bit of a paint trade sometimes it's better not to get the insurance involved but comprehensive

insurance is going to cover the damage to both vehicles.


Now what about things like active nature so flooding fire hail a tree fell on your car?


Well the insurance policy cover that most times yes sometimes an act of God isn't covered but you just need to really read the finer details in your insurance policy. Many of them if it seems really cheap and too good to be true it usually is and they will launch

a massive investigation into how you were negligent.


They will naturally want to try and prove negligence on your part that you left it parked in a river or next to a river with the henna break down.


Something of the sorts if it is completely outside of your control

they may very well pay out but they're going to look for a reason not to. Most insurances are going to do that it is just a business and this is also to prevent fraud which is a very big problem.


Comprehensive insurance its a little bit more expensive than the other types. Make sure you read your policy and probably the best sort of policy that you can have if you have a very expensive car absolutely. If you have a vehicle that you know you can't afford

to replace outright get a comprehensive insurance policy.


It is really is worth it if you're not prone to accidents you can take a slightly higher excess and that will bring your premiums down. Otherwise you can haggle a little bit and get a good premium with a respectable excess and that's about it actually shop around and just make sure that you go with the reputable company.


Read your policy with attention and make sure you know the fine print.


Be very wary of guys who are offering you deals that are too good to be true and yes just speak to a broker or the insurance companies directly .



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