Third party Car Insurance versus Comprehensive Car Insurance.

THIRD PARTY CAR INSURANCE

Important Facts about the Third Party Car Insurance

1. It is referred to as a 'third-party' cover since the beneficiary of the policy is someone other than the two parties involved in the contract (the car owner and the insurance company).

2. It doesn't cover the policy holder directly. In the event of theft or fire damage of the insured car this plan doesn't cover for any of such. The policy does not provide any benefit to the insured. However, it covers the insured's legal liability for death/disability of third-party loss or damage to the third-party property.

3. Usually less than N500,000 total value of cover.

4. Very cheap to purchase. Bought from around N5,000 or less depending on the Insurance company.



COMPREHENSIVE CAR INSURANCE

10 Massive Benefits of Comprehensive Car Insurance.

1. In the event of theft of the car, You will get your car replaced outrightly.



2. In the event of complete damage by fire, You will also get your car replaced outrightly.



3. You will get up to N5,000,000 for the property or vehicle destroyed as a result of the accident by the insured Car.



N.B. The plan covers every party involved in an eventuality caused by the insured.



4. You get paid 2.5% of your car value when the vehicle is damaged as a result of an accident for repair.



5. You get paid upto N500,000 guaranteed , should there be medical treatments to Passengers and Drivers involved with the insured car.



6. In the event of accident, You get up to N50,000 for loss of personal effects.



7. You get car assessories in the event of accident/theft/vandalism replaced.





8. You get up to N15,000 for hiring other cars for the sake of accident of your car.



9. You get up to N50,000 for towing your car as a result of accident.



10. Our company repair bodily injury of the 3rd party involved i.e. other vehicles hit by your insured car.



Act wisely... Chat me up!



Benjamin Eyeyeh

Insurance, Investment and Retirement Expert

WhatsApp 08-03-88-219-35