By: Peter Smyth
Submitted: 2009-06-29 23:48:32 | Word Count: 431
Following an accident is not the best time to wonder about what level of protection your car insurance plan offers. There is practically no such thing as having too much car insurance and understanding exactly what type of coverage you have is vital to the health and safety of you, and others.
Is compulsory third party enough?
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Even protection offered by your CTP (compulsory third party) insurance should be carefully examined. CTP or green slip insurance - as it's also referred to, provides compensation for others who are injured by your vehicle when either you, or someone else driving your vehicle, has an accident and is at fault. However, it does not provide cover for your own personal injuries if you are at fault or cover for any damage to other vehicles or property. What this means for you is, that if you’re involved in an accident and are at fault, you’ll need additional insurance protection. Otherwise, you’ll be personally responsible for all damages and injuries.
The benefits of comprehensive coverage
If you truly want the best car insurance protection that is available then purchasing comprehensive coverage is the way to go. Below are just some of the benefits that comprehensive coverage protection offers:
• New car replacement (rules apply)
• Overnight accommodation and transport
• Hire car coverage
• Limited cover for items in the car
In addition to these benefits, comprehensive car insurance also covers your liability for damages caused by your car to the property of others, in addition to covering the cost of repairs to your vehicle up to the amount in which you insure it for.
Third party property damage
If you don’t choose to purchase comprehensive damage, then you should at least seriously consider third party property damage. This form of car insurance provides cover against damages and loss to the property of others and also provides cover for your car if you are hit by an uninsured vehicle. 1Cover will also offer optional benefits like:
• Variable excess to reduce premium
• Restricted driver discounts
• No claim discount protection
• The option to pick your own repair company
It is true that owning car insurance is one of the added costs of driving a vehicle, but the freedom that it offers from being personally held responsible if you are involved in an accident is well worth the expense.
Author Resource:-
1Cover offers Australians a chance to get car insurance at the right price. Take a drive around our website to see the different types of car insurance policies that we offer to find the one that matches you the most.
