Types of Auto Insurance

Yuo should know about the types of auto insurance before buying.

Today Auto insurance is the best way to take care of your costly and luxurious car or any vehicle. Auto insurance works as a safe guard for you and your vehicle. It keeps your money, which you spent on your expensive vehicle. At the present time, Auto insurance industry is expanding more and more. It is good for you but it is also confusingly. This industry gives you many different types of auto insurance coverage. Before buying any auto insurance, it is essential for you to know the basics-key information about all the types and which sets in your bugged. The basic types of auto insurance are given below




Basic types of Auto insurance


Fully Comprehensive Auto Insurance Policy:-
This policy the most accepted policy of auto insurance industry. This policy covers all types of causes like, burned, theft, accident, wear and tear ect. So, It is also the most expensive policy. If there is a serious accident happen on the mid way, your expensive car damaged very badly where you were not at fault while the other driver, who did the accident does not accept; you must not to worry. The Fully Comprehensive Auto Insurance Policy covers all this. If you are looking for a value for money policy, this is the best for you.
To buy the Fully Comprehensive Auto Insurance Policy, register an insurance claim against the insurance company from which you want to buy. While buying this policy, check all that details about the insurance company and the benefits or cover, which it will give. Remember one more important thing that in the auto insurance industry there are a few insurance companies, which will not insure your vehicle 100% of it’s value but of 80% or less. Yet try your best to find out the companies, which provides 100% insure for your valuable automobile.



2. Third Party, Fire and Theft-
The Third Party, Fire and Theft Policy is good for those who had finished their automotive loan. They still insure their vehicle because they cherish and admire their car and emotionally attached with it. This Policy is cheap then the Fully Comprehensive Auto Insurance Policy. Still it is just like as it. It covers the causes like theft, Burn, injury to the third party ect. But in case your vehicle met with an accident and in this there is your fault then the insurance will covers you yet there is third party fault then it will not cover you. It means that when an accident happen because of you then the insurance company gives your compensation while an accident occur because of the third party then insurance company will not come to your economic support. There is one big difference between this two types of policies therefore you can see the prize difference also.




3. Third Party Insurance:-
This Policy is the chipset policy. As like it’s prize, it can’t cover many types of risks. It covers only one type of risk and that is the third party’s injury. The accident occurred by you then also it covers. Third Party Insurance Policy is for that who has a less pricey and old vehicle not for expensive one.




4. Specialized Car Insurance:-
The Specialized Car Insurance policy is for classic cars. 25 years or older cars are included in this category. This policy insures cars as classic and according to their owner’s requirement. The benefit of Specialized Car Insurance policy is as same as the comprehensive one. There is only one disadvantage of this policy is that it will covers your vehicle not by time limit but by number of road miles you can drive. Weather you complete the road miles limit within one year or ten year, it makes no difference to the policy.


This all policies have their own value. Collect all the information about all the companies and study their benefits, rules & prize. While taking decision keep in mind about your requirements budget and ask yourself one question, “If I will not buy this insurance policy, am I putting myself in any serious financial risk from a genuine and common danger? If the answer is yes, then go for it.