What does it not cover?
There are several things which no comprehensive auto insurance plan covers, such as:
- Depreciation of the vehicle or any other wear or tear caused by the aging of the
- Mechanical breakdown
- The accident caused by an unlicensed driver
- The accident caused while driving under the influence.
- Damages to tyres and tubes. If the damage is caused during an accident, you can
claim 50% of the replacement cost.
- Damage caused by war or nuclear attack.
Why you need Comprehensive Motor Insurance?
It is the highest form of protection you can buy for your vehicle. Even though the law does not mandate, it is always recommended due to the following reasons:
- High-end vehicles: Comprehensive coverage should have opted on a relatively new and/or valuable vehicle as it protects you from potential financial loss.
2. Comprehensive coverage: Includes coverage for theft, fire, storm, tempest, and flood, hurricane or a tornado, vandalism, falling objects, damages done to your car by animals, civil disturbance, like a riot that results in damage or destruction of your car.
3. Affordable: While Third-Party Liability insurance may be cheaper upfront, in the long run, comprehensive motor insurance ultimately proves more cost-effective. It is advisable to compare comprehensive car insurance quotes online to get a clearer picture.
4. Fleet owners: Commercial fleet owners or companies that own and maintain a large fleet can benefit from a comprehensive motor insurance plan.
5. No claim bonus: Vehicles with good claim history are eligible for no claim bonus for every claim-free year.
6. Peace of mind: The extensive financial protection it provides keeps you stress-free while your vehicle is on the road.