Insurers offer three main types of motor insurance policies. Optional benefits are available to meet your individual needs.

There are 3 types of motor insurance

Comprehensive Cover

Covers repair or replacement of your vehicle if it is damaged or lost as a result of theft, accident, vandalism or weather-related damage. It also covers accidental loss or damage to your car, its spare parts and accessories and liability of claims from third parties for damage to property and people.

Third Party, Fire and Theft Cover

Besides covering injury and damage caused by your vehicle to someone else’s vehicle or property, it also covers your vehicle if it is stolen or damaged by fire.

Third Party Cover

Covers liability claims from third parties for injury and damage to their vehicle or property caused by your vehicle.


About the Author

Ivan Guan is the author of the popular book "FIRE Your Retirement". He is an independent financial adviser with more than a decade of knowledge and experience in providing financial advisory services to both individuals and businesses. He specializes in investment planning and portfolio management for early retirement. His blog provides practical financial tips, strategies and resources to help people achieve financial freedom. Follow his Telegram Channel to join the FIRE community.
The views and opinions expressed in this article are those of the author. This does not reflect the official position of any agency, organization, employer or company. Refer to full disclaimers here.

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