What type of motor insurance coverage should I buy for my car?

Insurers offer three main types of motor insurance policies;

  1. Comprehensive Cover covers repair or replacement of your vehicle if it is damaged or lost as a result of theft, accident, vandalism or weather-related damage. It also covers accidental loss or damage to your car, its spare parts and accessories and liability of claims from third parties for damage to property and people. Comprehensive coverage differs significantly from one insurer to another. You must purchase this policy if your car is financed. We recommend you also buy this policy if you don’t have enough savings to replace the car, or are economically dependent on it.
  2. Third Party, Fire and Theft Cover covers injury and damage caused by your vehicle to another party’s vehicle or property, it also covers your vehicle if it is stolen or damaged by fire. To purchase this policy, you must not have any loan financing your car. You should also make sure you have enough savings to replace the car, especially if you are economically dependent on it. For newer cars it is better to get comprehensive insurance.
  3. Third Party Cover covers liability claims from third parties for injury and damage to their vehicle or property caused by your vehicle. To purchase this policy, you must not have any loan financing your car. You should also make sure you have enough savings to replace the car, especially if you are economically dependent on it. For newer cars, it is better to get comprehensive insurance.