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15Oct 2013

Different types of motor insurance

Choosing the right kind of motor insurance for you could appear to be an intimidating process, if you don’t know how to distinguish between the various types. Fortunately it’s actually quite easy, as there are generally just three kinds of motor insurance. Let us take a look at what they are…

Comprehensive cover

As the word ‘comprehensive’ suggests, ‘comprehensive’ cover provides all-inclusive cover for almost any form of loss or damage that could happen to your car due to an incident such as fire, flood, vandalism, hi-jacking or an accident. It also provides cover for the loss or damage of another party’s car that was involved in the same incident.

Third party, fire and theft motor cover

‘Third party, fire and theft’ cover only provides partial cover for partial loss or damage caused to your own car due to theft and hijacking and cover to the other party’s car as a result of an accident that you were involved in. It does not give you cover for accident damage to your own car though.

Third party only cover

‘Third party only’ cover provides limited cover for damage or loss to another party’s car only, as a result of an accident that you have been involved in with your car.

The differences in the three types of motor insurance at a glance

The main differences in these three types of motor insurance can thus be summarised as follows:
Comprehensive: Full cover for loss of or damage to your own car, due to fire, floods, hijacking or an accident, as well as cover for damage to another party’s car that was involved in the same accident as you.
Third party, fire and theft: No cover for accident damage to your own car, just for the other party that was involved in the same accident as you. Partial cover is offered for your own car though, for other incidents such as fire, theft or hijacking.
Third party only: Limited cover that does not provide for any loss or damage to your own car, but only provides for damage to another party’s car due to an accident that you were involved in.

The best type of motor insurance for you

At King Price we offer exactly the same types of motor insurance that you will get from any other motor car insurer in South Africa. The difference is that we believe price is king…. Bottom line! For this reason, even our comprehensive motor insurance, is significantly cheaper than everywhere else. So why should you settle for partial or limited motor insurance cover only, if you can afford the full five star deal? Simply click here to get a quote now, to see how much less you will be paying.