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Fully Comprehensive Car Insurance v/s Third Party Cover Plan

Posted by Royal Sundaram on 06 May 2013

The insurance market has two kinds of motor plans – Comprehensive car insurance and Third party car insurance. The dilemma customers face now is – Which is the best plan to opt for? Let’s look at how the plans are different. By the end of the comparison you’ll automatically deduce which plan supersedes the other.

A major difference between the two is in the coverage they offer. A third party motor insurance, as the name suggests only offers cover for damages to third party. As per insurance terminology, first party is the person buying the insurance and second party is the insurance provider. Third party is the person or a company that claims damages in case of loss suffered through your car. This kind of insurance only covers damage or loss of property to third party by your car. The insurance does not extend to cover the damages to your car or even you.

On the other hand, a comprehensive motor insurance plan is a single solution for all your car coverage requirements. This plan not only offers you third party cover but a host of other benefits that extend to cover your car, you and the fellow passengers. This insurance includes –

  • Cover for loss or damage to vehicle
  • Claims for theft, vandalism, fire and damages resulting from inclement weather such as floods or lightning
  • Optional cover for co-passengers
  • Cover for car owner

All in all a single plan for your car insurance needs. Plus a comprehensive plan lets you enhance the coverage to your car by adding different riders to it. These are benefits that are not originally provided by the plan.  Some of the add-ons you can avail include –

  • Depreciation Waiver Cover
  • Windshield Glass Cover
  • Voluntary Deductible Cover
  • Full Invoice Price Insurance Cover
  • Loss of Baggage Cover
  • Spare Car Clause

With so many benefits to avail with a comprehensive plan, there’s hardly any reason why a car owner won’t deem it better than a third party motor insurance.

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