The truth is that choosing a vehicle insurance can be quite difficult when we do not know what each thing consists of nor are we clear about the advantages that each coverage brings to our facet of drivers.
There are those who prefer to spend little and cover only the most basic damages because they are sure that an accident will not occur in the near future; while there are also those who prefer to insure against all types of accidents and robberies, as well as phenomena of nature. To make the choice a bit easier, we present the advantages and disadvantages of each of the policies.
It is the most basic and therefore the cheapest. This type of coverage only takes care of the damages that can be suffered by all those involved in an accident; that is, it covers the insured’s civil responsibility: Medical expenses and damages to the victims’ properties. What it does not cover: Damage to the vehicle, theft, etc.
Total loss coverage: It costs a little more than civil liability but ensures that if you have an accident and the car repairs are equal to or greater than the value of 60% (or 70%, depending on the insurer) of the insured amount, the insurer will return all the money to buy another car. You can also include Total Theft coverage.
All Risk Coverage:
As the name implies, it includes the other two and also all the damages that the vehicle may suffer (crashes, accidents, damage to the tires, thefts, etc.); To see more specifically what it covers, you should check with the insurer. It is the most expensive.
So the ideal coverage will depend on how cautious you are. The most convenient is always the All Risk but many are scared by its price. However, the key to finding a price that suits you is to compare all insurers, you will see that there are offers. You can use the auto insurance comparator of Antonios Sumedaras.