Car Insurance Types

Owning a car is not all about having easy access to your own transportation. With it comes the responsibility of getting your car insured for your protection.

There are three common car insurance types: the comprehensive car insurance, the third party fire and theft car insurance and the third party property insurance. Although most insurance companies only have these car insurance types, some insurance companies have the Greenslip or Compulsory Third Party (CTP) car insurance product for their clients.

1 of 4 Car Insurance Types: Comprehensive Car Insurance
Comprehensive car insurance is perhaps the most expensive, but so far the best car insurance among the car insurance types available. With a comprehensive car insurance policy, your insurance company will cover damages to your car and damages to other people's property if your car is involved in an accident. The driver of your car when the accident happened will also be covered under this policy, no matter whose fault it is. Unlike other car insurance types, comprehensive car insurance provides you with more extensive coverage. Most new vehicles owners prefer to purchase comprehensive car insurances for their protection and peace of mind.

1 of 2 Car Insurance Types: Third Party Fire and Theft Car Insurance
If you're going to get a third party fire and theft car insurance, you will be assured that your insurance company will pay for the damages caused by your car to other people's property. This car insurance type has limited coverage for loss and damage to your car caused by theft or fire only. Damages to your car caused by other factors besides theft and fire are not covered by the policy.

1 of 3 Car Insurance Types: Third Party Property Insurances
If you get a third party property insurance, the insurance company will pay for the damages caused by your car to other people's property, but sadly, it doesn't cover the damages and cost of repairs to your car. These car insurance types are preferred by those who own car models that have relatively cheaper repair cost than the others.

1 of 4 Car Insurance Types: Greenslip or Compulsory Third Party (CTP) Insurances
The Greenslip or Compulsory Third Party (CTP) insurances are the most basic car insurance types available to car owners. In the event of a personal injury claim after an accident involving your car, the Greenslip or Compulsory Third Party (CTP) insurance will protect the owner, and the driver of the car from legal liability. However, these car insurance types don't cover damages to your car and other people's vehicles.

These car insurance types have their own merits. It's up to you, the car owner, to choose which among the different car insurance types is best for you. You may ask your car insurance agent or broker to guide you in choosing the best car insurance policy among the car insurance types available. Take time to study the policies that go with the different car insurance types. Remember, varied car insurance types have different coverage policies.