If you recently purchased your first car, you will need car insurance to get a road tax. As a new car owner, it is helpful to know the options and types of coverage that comes with your insurance policy. Below are some tips on the things to consider when purchasing your car insurance.
Types of Coverage
There are three types of car insurance plans (in ascending order): Third-Party Cover, Third-Party Fire and Theft Cover, and Comprehensive Cover. It is recommended that you choose a Comprehensive Cover that provides complete protection including coverage for bodily injuries and in the event of death, damage to third parties’ properties, accidental or fire damages to your car and even vehicle theft. Should you have an older vehicle, you can opt for a Third Party coverage and if you happen to own a vintage or classic car that you only drive on weekends, you can go for a Third Party, Fire and Theft policy.
Always choose Agreed Value
It is common to have your car insurance premium to be determined by the estimated market value. However, in a partially de-tariffed environment, it could also be determined by age and location. When selecting the value of your vehicle, it is better to choose the Agreed Value. By doing so, it alleviates hassle to the policyholder during a claim as it ensures the vehicle’s value isn’t under or over-insured.
What are Special Perils?
These are known add-ons that cover situations like floods, landslides, storms and more. While it is common to assume that you don’t live in a flood-prone area, sometimes it is better to be safe than sorry. It is good to survey the market and go for the better plans that sometimes provide special offers. You should also consider adding a windshield cover to your policy.
An excellent added service is the free-of-charge motor accident assistance that comes with the insurance purchase. The support may include first response units, towing assistance, vouchers, and even vehicle delivery.
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