Spotlight On Motor Vehicle Insurance
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 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 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.
General Advice Warning
The information on this website is general advice only and does not take into account your personal circumstances, financial situation or needs. Please connect with an insurance broker to discuss your specific needs.