To Be Your Fit !

Saturday, May 26, 2018


 is mandatory and therefore everyone that owns a car should make it a priority to be familiar with car insurance policies. Any time that you are on the road and traveling in a vehicle, you face the risk of being in a car accident. In many instances, the damage that results from a car accident can be quite high – especially if injury or death has occurred. This is why it is so important and mandatory to have car insurance.
Car insurance is a type of cover that will protect you financially in the event of a car accident. In return for a regular premium payment, the car insurance company will pay for some or all of the damage to the other vehicles involved. It may also pay out more, depending on the type of cover you own.
There are different forms of car insurance cover that you can purchase. The one you choose will depend on the extent of insurance cover you require. Cover options include:
Third Party Cover Only – With third party cover only, the insurance policy will provide cover for accidental damage to a third party vehicle (or vehicles), up to a specified limit. It will also cover damage to third party property, up to a set limit.
In addition, these types of car insurance policies will provide cover for unlimited – but reasonable – liability for death and / or bodily injury to third parties. It is required that Nigerians have at minimum third party car insurance cover.
Comprehensive Cover – If you want to obtain additional protection, then a comprehensive policy can be a better option. This is because these policies provide everything that a third party policy offers, as well as protection from any personal loss. Therefore, a comprehensive car insurance policy will provide cover for damage to third party vehicles, as well as damage to third party property, up to a certain policy limit.
As with third party cover, a comprehensive car insurance policy will also cover accidental damage to the insured vehicle. This type of cover will also insure for loss or damage to the insured vehicle that is a result of fire or theft, as well as for damage that results from malicious acts, strikes, riots, and / or civil commotion. As with third party cover, a comprehensive policy will also provide unlimited, but reasonable, liability for death and / or bodily injuries to third parties.
It is important to have a good understanding of how much your car insurance policy will pay in the result of an accident. This is because, even with car insurance cover, you could still end up having to pay a deductible excess. For example, if your car insurance policy will only cover loss of up to $4000 and the resulting damage and / or liability is more, you may be responsible for paying the difference.