To insure your car is to protect it from potential risks and damages especially in a country like Nigeria. Car insurance is divided into two: comprehensive car insurance and third-party car insurance.
10 reasons to choose comprehensive insurance over third-party car insurance
When you think about insurance in Nigeria, as a car owner it is vital to put car insurance on the top of the list.
What is Comprehensive Car Insurance?
A comprehensive car insurance is an insurance coverage offer that protects you and your car when a damage or an accident occurs. It is one of the wholesome insurance in Nigeria as it covers not only your car but you.
On the other hand, the third-party car insurance is a coverage offer for third-party damages or losses. It solely focuses on car insurance against the third party.
Reasons to Choose Comprehensive Insurance Over Third-Party Car Insurance
Having realized the main difference between the two types of car insurance, the big question is, which is most important?
It is obvious that the comprehensive car insurance is a better choice to the third-party car insurance policy. This is majorly because, the comprehensive car insurance policy covers you and your car. It is more beneficial and broad in usage.
However, it has its own disadvantages as well, but there are several important reasons to choose it over the third-party car insurance. Let's check out what those reasons are:
#1 For car damages
The go-to car insurance package you need when your car encounters some damages is the comprehensive car insurance. Damages are unforeseen and unexpected, but not to worry, a comprehensive car insurance will make things better. During events like accidents, fires or collisions, a comprehensive car insurance will help protect your car and put it back on track.
#2 For third-party liabilities
A major advantage the comprehensive car insurance has over the third-party car insurance is that it can do all that the third-party car insurance can do and much more. In a country like Nigeria, there are lots of third party issues and insurance in Nigeria is best when it is a comprehensive one. This will help solve all issues involving you, your car as well as the third party.
#3 For Cost Effectiveness
It is true and a fact that comprehensive car insurance can be on the high side in terms of price compared to the third-party car insurance. However, when you compare the coverage offers and benefits to the price of both, you will realize that the comprehensive car insurance is more cost effective than the third-party car insurance. It is a high pay-more benefits situation and an obvious win-win one.
#4 For Car theft
It is always a painful situation to have your car stolen and what better way to compensate for such loss than a comprehensive car insurance. Yes, a comprehensive car insurance will help you as regards your loss due to theft unlike a third-party car insurance.
#5 For Natural disasters
Natural disasters can happen at any time and while your car may not be safe from its claws and effects, your can can be protected and all risks and damages paid by your comprehensive car insurance policy. Needless to say, you can recover your car loss due to natural disasters like floods, earthquakes, hurricanes and so on, by making a claim on your comprehensive car insurance.
#6 For Breakdown Assistance
An unexpected situation like a breakdown can be turned into a great opportunity. With your comprehensive car insurance policy, you can get a breakdown's assistance at no cost and no claim. It is one of the benefits that come with having a comprehensive car insurance policy over a third-party car insurance policy.
#7 For Special Add-Ons
A comprehensive car insurance policy allows you to have as much Add-Ons as possible. It provides you with more opportunities to have your car protected and valued. Special Add-Ons like engine and gearbox protection, return to invoice, consumables and so on are all allowed on your comprehensive car insurance.
#8 For Customizing your IDV
Your Insured Declared Value (IDV) is your current market value for your Car and you can have it customized with your comprehensive car insurance policy. This helps you have access to premium and better claims for your car.
#9 For Zero-depreciation Coverage
A major concern for most car owners is depreciation over time which affects their insurance coverage. It will be sad to not have a claim for damages due to your car having undergone depreciation. A comprehensive car insurance policy however has a zero depreciation coverage that helps you make your claims at all costs even when some parts have depreciated.
#10 For better coverage
Having a policy plan that gives better coverage over others is the best reason to choose that plan. A comprehensive car insurance has better coverage over the third-party car insurance, hence, a better choice to make.
With the reasons stated above, it is safe to say that you can make the right choice for your car insurance today!
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