The first thing to decide when buying a Motor Vehicle Insurance is what type of cover you require. It’s important to be clear about the kind of cover you want – and to read your policy carefully, to make sure it provides exactly that.
Third party is the minimum type of Motor Vehicle insurance you can take out and it’s a legal requirement that ensures Motor Vehicles can cover their liability if they cause damage or injury. ‘Third Party’ insurance only covers damage or injury you may cause to someone else, including passengers. This type of Motor Vehicle insurance doesn’t provide any cover for your own Motor Vehicle or property. So if your own Motor Vehicle is damaged in an accident, or stolen, you will have to either pay the repair bill yourself, or if the third party is legally liable you should claim from the other party.
‘Third Party Fire & Theft’ is similar to ‘Third Party’ but also includes additional protection that covers your losses if your Motor Vehicle is stolen or catches fire. Again, though, it doesn’t cover you against accidental damage to your Motor Vehicle. Third Party Fire and Theft includes all Third Party’s covers plus Fire, Theft and Attempted Theft.
Comprehensive insurance protects you against the damages you may cause to a third party and also against accidental damage to your own Motor Vehicle. Although it is more expensive than the other two type of insurance, it completely covers you since we will cover your own damage and the third party’s damage. However, Eurocomp Motor Vehicle insurance is a special deal package that consists of all covers plus all the additional benefits that can be purchased on Comprehensive Policy with only euro 60 per year.