Car insurance is something that needs to be issued to every vehicle on the road. You might consider this a drag, but it's not an option. Car insurance is required by law and offenders are punished harshly.
Any vehicle on the road must be covered by insurance. This is not an option and if you are caught without car insurance you will pay for it dearly. Compulsory insurance covers these basic needs and will protect the vehicle and other vehicles involved in the accident.
Compulsory insurance does not cover damages to your vehicle. Compulsory insurance also does not cover money lost in the event that your vehicle is stolen. Third party insurance covers both these aspects, and many people deem them necessary "add ons" to their insurance policy.
Unlike compulsory insurance which is calculated according to the age and experience of the driver, third party insurance calculates the value of the car. Insurance companies will break down the age of the vehicle, its current condition, and where the vehicle will be garaged.
Most car owners are sensible enough to take out third party car insurance including coverage against theft. Although your vehicle may not be worth much, the coverage still protects you in case it is stolen.
The higher the value of the vehicle, the more your monthly insurance premium will cost. It's always a great idea to have comprehensive car insurance, but especially important for rare vehicles or vehicles in mint condition.
Comprehensive car insurance can add up quick, especially if the driver is young and inexperienced. Also if your driving history is tainted, the insurance company will remain skeptical. Take this into account if you plan to buy a new vehicle. - 15224
Any vehicle on the road must be covered by insurance. This is not an option and if you are caught without car insurance you will pay for it dearly. Compulsory insurance covers these basic needs and will protect the vehicle and other vehicles involved in the accident.
Compulsory insurance does not cover damages to your vehicle. Compulsory insurance also does not cover money lost in the event that your vehicle is stolen. Third party insurance covers both these aspects, and many people deem them necessary "add ons" to their insurance policy.
Unlike compulsory insurance which is calculated according to the age and experience of the driver, third party insurance calculates the value of the car. Insurance companies will break down the age of the vehicle, its current condition, and where the vehicle will be garaged.
Most car owners are sensible enough to take out third party car insurance including coverage against theft. Although your vehicle may not be worth much, the coverage still protects you in case it is stolen.
The higher the value of the vehicle, the more your monthly insurance premium will cost. It's always a great idea to have comprehensive car insurance, but especially important for rare vehicles or vehicles in mint condition.
Comprehensive car insurance can add up quick, especially if the driver is young and inexperienced. Also if your driving history is tainted, the insurance company will remain skeptical. Take this into account if you plan to buy a new vehicle. - 15224
About the Author:
Graham McKenzie is the content Syndication Manager at Insurance123.co.za South Africans leading car insurance information portal
