Types of Insurance
Three types of motor insurance are available: third party only, third part theft and fire, and comprehensive. The legal minimum is third party only, but this cover may be too risky for many motorists. Comprehensive is the most extensive cover one can buy. Motorists can find short term cover in each type.
Third Party Only
The most basic cover required by law is third party only. Every motorist on the road must have this. If a motorist causes an accident, third party insurance covers the damage to others' person and property. It does not cover the motorist's own damage or medical expenses, however. It's often very cheap, but many experts warn against such cover because it's a false economy. Should a motorist get into an accident, he or she will have to pay for their own damage and personal injury, which can be ruinous. Annual insurance policies that provide for motorists to drive others' vehicles often cover them for third party only. Even if one has an annual policy with this provision, it might be worthwhile to take out a short term policy with more cover, just in case.
Third Party Theft and Fire
Third party theft and fire insures motorists for loss or damage due to fire, theft, or attempted theft. This is in addition to third party only cover. It covers a motorist's own costs in certain specific cases, though policies often come with a list of exclusions. For example, if a motorist is negligent and leaves his or her keys on top of the car, should the car be stolen, the loss would not be covered by the policy. Insurers require certain basic standards of conduct from motorists in order to prevent damage or loss. Such details are listed in the policy documents. Still, this type of cover provides motorists with a bit more protection than third party only.
Comprehensive cover is the most
extensive and consequently, the most costly. It covers third party
damages and injury as well as the motorist's own damages and
personal injury. It may also include other extras like breakdown
cover, cover for personal belongings, legal cover, and so on. But it
should be noted that even with a comprehensive short term policy,
there are many exclusions, so motorists must check and comply with