Car insurance is a mandatory cover. Enforced by the law, no vehicle can be driven without being insured.
Apart from being mandatory, car insurance is a necessity given the vulnerability to peril of accidental damage or theft of the car. Since cars are expensive possessions, it becomes highly important to have a cover against the probable dangers.
How Credit Yoga can help?
At Credit Yoga, we understand the importance of your money and ensure that you invest in the right policy where you are able to get the best covers in lowest possible premium. We shall evaluate the various available options and advise you on the best suited cover for your vehicle.
We shall also ensure that you do get all the bonuses and discounts that you are entitled to.
Types of Car Insurance
There are two types of Car insurance covers.
Third party liability insurance is the mandatory cover (as enforced by law). Under this cover any damage to a third party in the event of an accident gets compensated. The premiums are fixed and get determined by the engine capacity. The premiums are low but they do not cover damage to your vehicle and are restricted to third party claims only.
Comprehensive insurance also covers damage to own car apart from the third party losses. It can also include personal accidental cover for driver and passengers. The premium is calculated on the market value or declared value by the owner.