Prior to owning a car, it is very important for first-time car buyers to understand how comprehensive insurance works, and how it can help them save a huge amount of money in case that their car has been damaged or stolen.
To better understand how comprehensive car insurance works, let us first discuss how a basic car insurance works, also known as CPTL or Compulsory Third-Part Liability. The first and most important reason to get a CPTL is that protects you from personal liability in case you be in an accident.
Since accidents happen regardless of how skilled driver you are, having a car insurance is one way to mitigate risk. Insuring a car would mean protection from unexpected expenses in case your car gets damaged, stolen, or when a driver or passenger gets injured.
Ideally, car insurance spare you from spending a huge amount of money on repairs and hospital bills. On a brighter note, it gives you the peace of mind every time you hit the road.
A comprehensive car insurance, on the other hand, offers you greater protection than a basic car insurance. It allows you to claim from your insurer for accidents that are considered to be your fault, as well to those when fault cannot be proven e.g. if you return to your car after you went shopping to find that someone has made a dent on it.
With comprehensive car insurance, the coverage is considered “complete”, although it tends to vary across different companies. Consequently, insurance companies can also provide additional coverage depending on the coverage limit, amount, and to your personal needs as well.
To learn more about this topic, check the infographic below from iChoose.ph which discuss how comprehensive insurance works and why every car owners must have it.
Benefits of a Comprehensive Car Insurance (Infographic)