The third type of motor vehicle insurance is comprehensive insurance. This type of motor vehicle insurance provides comprehensive cover for damage to your car and the other car if you’re considered at fault in the event of an accident or theft.
With comprehensive insurance, you can insure your vehicle for an agreed amount or at market value. Market value may be cheaper, however, in the event of a claim you will only receive the market value of your car immediately prior to the accident.
The premiums (cost) depend on things like your age, driving history, type of car, insured value, where you live and anti-theft features on your car.
In all cases it’s important to read the insurance policies to ensure you understand exactly what kind of policy you are buying, what you’re covered for and what the premium is. When comparing policies it is essential to compare like with like. For example, some insurance policies may include things like a free windshield each year or accommodation if you’re in an accident away from home.