There are many different kinds of car indemnities that are available to drivers such as yourself, but you only need to have enough that best suit our needs. You also need to have a better understanding of these indemnities so you know which ones you should take to help you be protected while on the road.
There is also a problem with some insurance companies does not give full insurance to the client, only giving about 80% or 90% compensation. So it is best that you, as the driver, must have near thorough understanding of the policies that your company gives you.
Here is the list of the different auto indemnities available:
Fully Comprehensive Auto Indemnity
This type of auto indemnity is the most expensive but also the most common that drivers prefer to use. The insured driver would be protected in case something happens to him or her, and it is not just limited to car accidents. This auto indemnity also covers damages and injuries caused from robbery and theft. And with this type of auto indemnity, the policyholder would still be compensated if the driver is caught in an accident and the at-fault party is not insured nor gives details of their insurance policy.
Third Party Indemnity
The most common type of indemnity that focuses more on the safety of the driver’s vehicle, and it covers the circumstances when the insured driver is found to be the at-fault party in an accident and ha caused damage or injury to a third party. The items that are covered by the fully comprehensive auto indemnity also apply here, and the driver would only be compensated if he or she is found to be the one at-fault in an accident. Drivers who usually purchase this type of indemnity are usually the ones with old or lesser value vehicles.
Specialized Car Insurance
Also called the Classic Car Indemnity, this type of insurance policy insures vehicles that are over twenty years old. Items covered b the Fully Comprehensive Auto Indemnity also applies with this type of insurance plan, but the main drawback is that the coverage is only limited to the car’s mileage in a year.
As a driver, you deserve the protection you need when you driving out on the road. So read your insurance policies carefully and understand them thoroughly. Consult with your insurance agent if there is anything you need to clarify before you sign the insurance contract.