Purchasing a new car calls for the need to get it covered under the motor insurance. It is necessary that you choose the appropriate motor insurance cover wisely and according to the needs. The car insurance Kenya offers 3 types of car insurance covers to protect your car. The varied car insurance provided are:
- Third party insurance
- Third party fire and theft insurance
- Comprehensive car insurance
Most of the people prefer to buy the third party car insurance over the other two because of the cost differences. However, it is more commonly suggested to purchase comprehensive car insurance to get a full insurance cover.
This blog lists out the difference between the third party car insurance and the comprehensive car insurance while pointing out which of the covers is best suitable for the protection of your car.
Lets consider the basics of both the insurance plans before we start off with the differences and choosing the right insurance plan for your car.
Third party car insurance
As per the law, every car that runs on the road needs to be covered under an insurance plan. However, the chosen car insurance plan is solely your decision. Third party insurance Kenya offers the most basic benefits to protect the car. The Kenyan insurance market provides this cover as the least costing protection plan to car users.
This type of car insurance policy will protect you from the third party liabilities arising from a car accident that happened due to your fault, negligence, rash driving. Third party insurance will meet the costs incurred as a result of the damage made to the other person, their vehicle and/or property.
However, what this insurance doesn’t cover are the expenses incurred because of the injuries you suffer or the damage to your car. In short, third party insurance (as the name suggests) will only cover the third or the other party involved in the accident and will not be liable for any protection cover to the car owner.
Comprehensive car insurance
One of the most preferred type of car insurance in Kenya points out to the comprehensive car insurance. With an advancement in the buying and selling of automobiles in Kenya, the importance of a complete insured car is also marking it’s worth.
While, the other two types offer insurance cover for third party, fire and theft only, comprehensive car insurance provides benefits in addition to the mentioned ones.
When you choose for the comprehensive car policy not only will the third party be covered but damage to your car and the injuries faced will be included.
In case of accidental situation, the insurance company will pay for the expenses incurred by you and the other party. Thus, providing you with a total sense of monetary protection.
Having discussed the benefits offered by third party and comprehensive insurance, let’s take into consideration the differences between the both. The way both the policies differ from each other present a clear picture of which one is best suited as per the requirement.
A few of the major differences between the comprehensive car insurance and Third party insurance include the following:
What they cover?
As discussed above, the third party insurance will only cover the third party expenses. The insurance company will pay for the medical bills and repair costs for the third party involved in the accident that resulted because of your fault. However, this policy doesn’t cover any personal expenses incurred by you.
On the other hand, if you purchase Comprehensive car insurance policy from the insurance companies in Kenya, you will be benefited by the following covers:
- Loss or damage caused by a collision or crash.
- Loss due to theft, vandalism or accidental damage
- Loss or damage caused by fire.
- Loss or damage due to any natural calamity such as storm, flood.
- Loss or damage because of animals.
- Replacement by a new Vehicle in case if your car is classified as Written-Off in policy registration.
However, there are certain areas that even this policy doesn’t cover. A few of the financial risks not covered under this insurance are:
- Breakdowns Arising from Wear and Tear
- Intentional Damage
- Personal Injuries
Costs incurred to buy the policies
On comparing, the comprehensive car insurance in kenya will certainly turn out be more costly than third party insurance. It is necessary that you choose the policy according to the circumstances and your needs. The information provided further details which policy to be chosen in particular scenarios.
- Options to enhance the insurance cover
There are no options to enhance the third party insurance policy. You cannot add benefits to the existing policy cover.
In case of comprehensive insurance policy, you can enhance the plan and additional benefits like political violence and terrorism cover, windshield cover can be added.
Who should buy comprehensive car insurance?
Most people believe that comprehensive car insurance is expensive in comparison to other policies. However, this is not always the case. The net worth of the covers under the insurance policy makes it equivalent to the cost of third party insurance. It is highly recommended that in specific circumstances and certain people must buy comprehensive insurance for their car, like:
- The people who lease or finance cars is to protect it from any kind of damage.
- If your car is expensive and/or it would be a costly affair to get it repaired, invest in this insurance plan.
When to buy third party insurance?
There are certain circumstances that tend to favor the purchase of third party insurance for your car over other policies. Such factors are:
- If the car owned by you is old, inexpensive and it’s economical to get it repaired, third-party policy might be more suitable.
- The car is being driven in a restricted and limited area or within personal property.
- The car is going to be in private storage for a long period of time.
You can buy the Third party insurance cover or the Comprehensive insurance policy Kenya either offline or online through trusted companies. Do compare the quotes and benefits before choosing the appropriate plan for the protection of your car. While it may be confusing to check out for different and apt plans, InsureAfrika makes the task simpler for you.
Insure Afrika is one of the most trusted insurance companies in Kenya that offers online car insurance policies. “Next Insurance” is a major insurance product provided by this company to offer a high-coverage policy for your car. Read more about this insurance plan on the website and avail significant benefits for your car.