Comprehensive and Third Party Insurance: We are humans we try to protect everything in our life. Every small bit of things that are related to us is also being protected by us. Starting from normal day to day works like changing an electric bulb to protect our lives in a broader way we have insurance in some or other kind which will assure that your family will be fine even if you aren’t there with them. If we are trying so hard to protect every incidence of our lives why shouldn’t we think about car insurance then? Let’s discuss two types of car insurance first which will help you grab the basic and initial knowledge about car insurance.
Comprehensive and Third Party Insurance:
Comprehensive Car Insurance is the most taken and most preferred kind of car insurance as it covers all the damages which have occurred to you and your property during an accident or incident and also there is some comprehensive car insurance where third party liabilities are also covered. Next, if we talk about Third-party insurance then it is a kind of insurance where third party liabilities are only covered which means if you have bumped to someone’s car then the third party will cover the damages to that person’s car or any kind of vehicle.
Let’s get into the differences:
We have talked a little bit about both the insurances but there are some differences related to their functions and their claims as well. So it is better to understand those claims in a tabular manner. So we will first elaborate comprehensive one first and then we’ll according differentiate third party insurance with that. As we know, Comprehensive is an insurance which is all-around insurance which not only covers the damage which has been made to you and your car but also it covers the damage of the third party’s car as well.
Secondly, the coverage of this insurance is huge and it has many situations which have been enlisted in this. Third, you don’t end up losing any money if you have invested in this insurance because it covers both your damage and third-party’s damage as well. Fourth, if we talk about the price, then it is a bit more expensive than that of third party insurance.
Whereas, depending upon all the criteria which we just discussed above if we talk about third-party then there is a lot to know about it. like, firstly it only covers the damage to any third party’s vehicle only like if you have damaged someone’s property then they will claim him/her on behalf of you. Secondly, the coverage of this insurance isn’t very extensive rather then it enlist very few situations only. Third, it only protects you at that time when you have made severe damage to somebody else’s property badly. In that case, you wouldn’t have to pay from your pocket. Fourth, talking about the limitation, it will not cover the damage which you have made to your car.
So the proper outcome of these differences is that if you have an old car which you use rarely then you can take third –party insurance for that one. But if you have a brand new car which you use on a regular basis, you should without any second thought go for Comprehensive insurance.