Comprehensive vs third party car insurance
Which level of cover is right for you? This guide will help you decide.
When you’re choosing car insurance it’s important you have the facts so you can make an informed decision. Understanding what you’re covered for will help you avoid unexpected costs and provide maximum peace of mind.
First off, all car owners need Compulsory Third Party (CTP) insurance – it’s a legal requirement. CTP protects people injured by your car if you cause an accident and, provided your car is registered, you’ll already have it.
While CTP covers personal injury claims arising from an accident you’ve caused, it doesn’t cover the cost of damage to your or anyone else’s car or property. That’s where Comprehensive and Third Party insurance come in.
Which policy you choose depends on how much protection you want. You might also factor in the value of your car and how you use it. If you want to be covered for damage to your new or expensive car you’ll probably want the benefits of comprehensive cover. Our Comprehensive Car insurance also includes emergency accommodation and transport, which may come in handy if you travel long distances. If you’re only concerned about avoiding a hefty repair bill for someone else’s car, basic Third Party Property Damage car insurance cover might be enough for you.
To keep things simple, we offer two levels of cover. Here’s a breakdown:
- Our Comprehensive Car insurance is our highest level of protection. It includes cover for accident damage, fire and theft and damage to other people’s cars and property. The cover extends to anyone driving your car. When purchasing this insurance you can choose to receive the Market Value or Agreed Value of your car if it’s written off. The Market Value is what we determine to be it’s worth at the time of the accident. Choosing an Agreed Value will mean you’ll probably have a higher premium, but you’re guaranteed to get the agreed amount if your car is deemed a write-off. You’re also able to boost your cover through our range of optional benefits.
- Our Third Party Property Damage Car insurance covers damage caused by the use of your car to other people’s cars and property, but not damage to your own car. For an extra premium, it can also cover your car for fire and theft for up to $10,000.
For more on what’s covered under each policy go to QBE Car insurance.
If you’d like to talk through your options we’re here to help. Call us on 133 723.