Car insurance policies can be so confusing especially if you are a first-time car insurer. How many parties are there? First, second and third-party but do not forget the comprehensive insurance also known as the comp-cover. Question is how is it different from the comprehensive insurance or even car air conditioner smells.
Most of us instinctively think of damage to our own vehicles when we think of insuring our cars. It is probably the primary reason we want to cover in the first place. Should anything happen to our cars in the event of an accident, theft, fire, damage or heaven forbid - come hail or hijackings - we had like to know that is not the sum total of our loss, as some financial ground can be recovered.
Despite of being expensive and having excesses, comprehensive insurance is a better option. Other insurance policy options like the third-party or third-party only, theft and fire don not cover your vehicle if deemed your fault. A comprehensive cover, on the other hand, covers everything regardless of who is at fault. This can be an advantage if your car was also damaged during the accident or if you were at fault.
If you prefer to use public transport instead of driving your car, the probability of you causing an accident is next to zero. Let us say in an unfortunate event it happens that you cause the accident, you become the first party, your insurer becomes the second party and the person suffering from your actions is the third party. This option is very expensive if it happens that there is bodily harm caused by the accident.
It is most likely to be the driver of another car you drive into. Precariously though it could also be a retailer, for example, if you drive through a shop window; or a homeowner, should you ever crash into someone is front gate or garage. Certain individuals could also be excluded from the definition of third party in your policy. Persons who may be excluded include members of your household. Which means that there will be no cover should you damage a family members car.
It is clear that the insurance option does not cater for any loses you might have endured during the accident if you are in fault. This will mean forking out every expense from out of your pocket. Even so, some of these regulations are somewhat biased and not as clear as they are supposed to be. Question is who would be deemed liable in the case where an individual reverses from the driveway and bumps a neighbors car who happens to have wrongly parked their vehicle?
In this incident, the neighbor is wrong by not parking correctly and the driver is at fault because he bumped the car. Both parties are at fault thus a distribution of damages claim is assessed in such scenarios.
It will be decided what percentage of blame you are responsible for, and what your neighbor, is responsible for. This will then determine the amount of damage claim in monetary terms each party owes the other. In this scenario, when a third-party claim is filed against you, it is up to you to lay a counter third-party claim.
Most of us instinctively think of damage to our own vehicles when we think of insuring our cars. It is probably the primary reason we want to cover in the first place. Should anything happen to our cars in the event of an accident, theft, fire, damage or heaven forbid - come hail or hijackings - we had like to know that is not the sum total of our loss, as some financial ground can be recovered.
Despite of being expensive and having excesses, comprehensive insurance is a better option. Other insurance policy options like the third-party or third-party only, theft and fire don not cover your vehicle if deemed your fault. A comprehensive cover, on the other hand, covers everything regardless of who is at fault. This can be an advantage if your car was also damaged during the accident or if you were at fault.
If you prefer to use public transport instead of driving your car, the probability of you causing an accident is next to zero. Let us say in an unfortunate event it happens that you cause the accident, you become the first party, your insurer becomes the second party and the person suffering from your actions is the third party. This option is very expensive if it happens that there is bodily harm caused by the accident.
It is most likely to be the driver of another car you drive into. Precariously though it could also be a retailer, for example, if you drive through a shop window; or a homeowner, should you ever crash into someone is front gate or garage. Certain individuals could also be excluded from the definition of third party in your policy. Persons who may be excluded include members of your household. Which means that there will be no cover should you damage a family members car.
It is clear that the insurance option does not cater for any loses you might have endured during the accident if you are in fault. This will mean forking out every expense from out of your pocket. Even so, some of these regulations are somewhat biased and not as clear as they are supposed to be. Question is who would be deemed liable in the case where an individual reverses from the driveway and bumps a neighbors car who happens to have wrongly parked their vehicle?
In this incident, the neighbor is wrong by not parking correctly and the driver is at fault because he bumped the car. Both parties are at fault thus a distribution of damages claim is assessed in such scenarios.
It will be decided what percentage of blame you are responsible for, and what your neighbor, is responsible for. This will then determine the amount of damage claim in monetary terms each party owes the other. In this scenario, when a third-party claim is filed against you, it is up to you to lay a counter third-party claim.
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