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Spotlight On Motor Vehicle Insurance

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Most of us have at least some kind of insurance on our vehicles, we would like to hope it is a fully comprehensive cover but today we weight premium as the major factor in purchasing car insurance, and if it gets too expensive we compromise on our cover. Here is some handy info to help you make the right choice when choosing car insurance.

Comprehensive Car Insurance

This type of insurance provides a maximum level of security. It covers damages that occur to your vehicle including cases where your vehicle is stolen or damage to another person's vehicle or property in the event of a crash for example. This type of insurance is highly recommended by us and the most popular, particularly where the vehicle is subject to a finance or loan agreement.

CTP or Compulsory Third Party Car Insurance

CTP is a car insurance type that is all about personal injury. It covers you or anyone else who drives the vehicle, against liability caused by accidental injury or death of other people in which you are held responsible for, however, some CTP policies provide "at-fault driver protection insurance" at no extra charge which is beneficial due to the fact where prescribed benefits are paid to you or anyone who drives your vehicle, should there be severe injuries sustained and they are held liable for. CTP coverage includes all passengers in your vehicle and any other vehicle involved as well as other people such as cyclists and pedestrians. It is also considered as a mandatory component of the annual vehicle registration process in every Australian state and territory.

Third Party Property

Third Party Property Damage Car Insurance covers you for damages caused to someone else's vehicle or other properties in an accident except the damage to your own vehicle. Third Party Property, Fire and Theft Insurance covers another person's vehicle or property and adds cover for your vehicle in the event that it catches fire or is stolen, however, damages to your vehicle incurred in an accident where you are held liable, are not covered. Like many other financial products, car insurance can be confusing and overwhelming. ARMA Insurance Brokers will help you simplify your selection and will help you choose a car insurance policy that has the most competitive price and the insurance policy that is just right for you. For a FREE Insurance Review and Quotes contact Amanda Morris.

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General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

All information above has been provided by the author.

Amanda Morris, Arma Insurance Brokers Hunter Valley, ABN 60096916184, AFSL 233750