Car Insurance Policies
Motor Insurance Policies can broadly be classified into three distinct classes of car insurance, namely: Comprehensive insurance, third Party fire and theft insurance and third party insurance only.
Comprehensive Insurance
The name “comprehensive insurance” can be somewhat misleading as this type of car insurance, although the most comprehensive of the different car insurance options available, does not really mean what it says. A Comprehensive Motor Policy will indemnify the Insured against loss or damage to the insured vehicle, and also against the claims of third parties for loss of or damage to their vehicles, or loss of or damage to other people’s property as a result of a motor accident on condition that certain provisions as stipulated in the policy have been met.
It is these provisions that make the comprehensive policy less than 100% comprehensive and the importance of being aware and adhering to these conditions are the key to ensuring that claims under your car insurance will not be repudiated. Besides these provisions, most car policies also contain exclusions, and although most of these exclusions apply to all car-insurance contracts there are variations that are unique to specific Insurers and it equally important that you familiarize yourself with the exclusions contained in your particular car policy.
Be aware that items such as luggage, or contents of a car, may or may not be covered under the policy and if they are covered it is customary for Insurers to place a limit on their liability for these items and there is usually a clause which requires that all such items be safely stored away in a cubbyhole or a locked boot.
In our crime-ridden society it stands to reason that most Insurers insist on some sort of anti-theft protection and the minimum requirements in many instances would be that a vehicle be equipped with an immobilizer. With older vehicles the Insurer may agree to an alarm or a gear-lock and this needs to be negotiated and stipulated in your car insurance contract.
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All Insurers will only provide cover for a vehicle if the vehicle is in a roadworthy condition and complies with the legal requirements of roadworthiness. The Insurer has grounds to repudiate liability for damages to both the insured vehicle and damages to third party property if the insured vehicle is found not to have been in a roadworthy condition at the time of an accident.
Most car policies place restrictions and limitations on who can drive the vehicle without affecting the Insurance cover. It is important to determine what the position may be under your Comprehensive Policy, if there is an accident when somebody other than you is driving your car. If that person has been nominated by you as an authorised driver under the Policy, then there would be no problem as long as the driver has a valid non-endorsed driver’s license and is driving with your permission. Most car policies limit the number of authorised drivers to the insured and members of their family. Particulars of authorised drivers and any limitations placed thereon will appear on your policy document and should be studied carefully.
There is usually a restriction of use of the vehicle under a personal car policy and if the vehicle is to be used primarily for business purposes then the insurance company must be made aware of this and the premium will be adjusted accordingly.
Make sure that there are no limitations as to the place where the vehicle will be covered for theft or hi-jacking.
Make sure that you understand exactly what is expected of you to avoid repudiation of a claim and adhere to the provisions. If anything contained in your policy is unclear to you get clarity by contacting your Insurer and asking them to explain it to you.
It may be a good idea to request that these explanations be in writing so that there can be no disputes at a later stage and so that you will have access to these explanations for referral purposes.
Third Party, Fire and Theft
This is a cheaper Policy which indemnifies you only if your vehicle is damaged or destroyed by fire or theft but will not cover the damages to the insured vehicle that are caused by a motor accident. Third party damages will be covered in the event of a third party claim against you and you are held legally responsible for damage to third party property that occurred as a result of driving of the insured vehicle.
Although this is a less expensive type of insurance cover many of the limitations and restrictions imposed above will still be applicable. It is important that you are aware and adhere to all these provisions.
Third Party only
The Third Party only Policy which is the cheapest offers no protection of the insured vehicle and only covers you against claims which other people may make against you arising from the use of your motor vehicle.
Once again these policies are also subject to provisions, limitations and restrictions that must be adhered to and it is important that you familiarize yourself with these.
Remember that purchasing insurance and paying your monthly premium may not be all that is required to ensure that you have insurance cover. Make sure you know what else is required of you so that you can have peace of mind knowing that your insurance will pay out in the event of a claim.
The author is the specializes in cheap car insurance. To read more on the types of car insurance in South Africa, visit getinsurance.co.za
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