Nowadays, almost all car owners use cheap car insurance so that any problem that happens with your car cannot lead to big financial implications. And this is also necessary, since anything can happen to your car. Someone may try to steal your car or it may sometimes be stolen. You can also be the victim of a traffic accident, fire, or sometimes an act of vandalism.
Due to these factors, people are using one of three types of cheap car insurance, or sometimes they go for one car insurance plan for one car and another plan for the second car. I hope you know about the different types, but if you don’t know them, please leave me a short summary about them first. The first type of car insurance is Third Party Only or TPO, which covers your liability to third parties, that is, claims made by third parties against you.
The second type of cheap car insurance is Third Party Theft and Fire Insurance or TPF & T, which covers you if someone else claims against you for injury or damage to your car or driver. If your car is damaged by fire, it helps too. Whereas, the third type is comprehensive and covers accidental damage caused to your car and damage or injury that you cause to another vehicle or its driver in an accident.
Now, people are using one or two of these cheap car insurance plans and auto insurance companies are introducing several new and beneficial features with these plans. Now, you can get coverage for personal effects damaged in a car accident, such as clothing and luggage, up to a specified amount. Sometimes you can also get travel expenses paid up to a specified amount when your car is damaged or stolen.
Some companies are also taking care of your car stereo, as equipment damaged in a crash may be covered up to a specific amount. Sometimes the deductible for collision coverage does not apply when the accident involves two cars insured by the same auto insurance company. And these hidden benefits are attracting many serious drivers to opt for car insurance.
