Full Coverage Insurance
Full coverage insurance protects your vehicle regardless of fault. If you have an accident, even one you cause, your car is covered. You are responsible only for an excess (also called a deductible) amount, which is specified in your quote. Additionally, if your car is completely destroyed in an accident, you will receive the car value amount stated in your policy.
Third-Party Liability (TPL) Insurance
With third-party liability insurance, only damage to other people’s vehicles, property, or persons is covered when you are at fault. If you cause an accident, you must repair your own car at your expense. However, if you are not at fault in an accident, third-party insurance of other party will cover all damages to your vehicle.
What’s Not Covered
TPL insurance does not covers flood damage, off-road incidents, or situations where your parked car is damaged by falling debris from a construction site or similar non-road-accident events, unless specifically included by your insurance company.
Policy Variations
Different insurance companies offer varying premiums, excess amounts, and declared car values. If your car is completely written off, you will receive the car value specified in your policy. Always compare quotes to find the best terms for your needs.
Important points if you’re buying full coverage:
- Natural calamities is very crucial factor as there was flood in 2024 and people with full coverage insurance were safe as natural calamities are covered in full coverage.
- Plus, in full insurance you must make sure you are satisfied with the car value you entered while purchasing the full coverage insurance as it the amount you will get if by any chance car gets completely damaged.
- It is important tin full insurance that you know all the points of the policy, make sure natural calamities like flood and storm, or fire is covered.
By understanding these key differences, you can choose the policy that best fits your needs and budget. Whether you opt for full coverage or TPL insurance, Renew My Car Registration is here to help you compare quotes, explain policy details, and secure the right coverage for your vehicle, quickly and transparently. Trust us to guide you every step of the way.