Buying motor insurance and making claims (or not)
What is covered under the policy?
When you buy motor insurance, you’ll need to know what’s covered under the policy if an accident takes place. In an accident, there are three parties involved: the insurance company, you (the ‘policyholder’), and the other vehicle and its passengers (the ‘third party’).
There are three types of coverage:
- Comprehensive: This covers damage to both your vehicle and the third party’s vehicle as well as injury to the third party.
- Third-party with fire and theft: This covers damage and injury to the third party but not to you or your own vehicle. However, your vehicle is still covered in the case of fire and theft.
- Third-party only: This covers damage and injury to the third party only, with no coverage for your vehicle.
The types of motor insurance available:
(Also known as First Party Policy)
|Extension Cover/ Optional Benefits to Comprehensive Policy
(Subject to agreement by your Insurers and payment of additional premium)
(Also known as Third Party Policy)
|Third Party Fire & Theft
(Sometimes known as Second Party Policy)
|Death or injury to other parties||Breakage of Windscreen only||Death or injury to other parties||Death or injury to other parties|
|Damage to other parties’ property||Damage arising from flood, windstorm, landslide & other natural disasters||Damage to other parties’ property||Damage to other parties’ property|
|Loss/damage to your vehicle caused by Theft or Fire||Damage to your vehicle due to Malicious Damage or Riot, Strike & Civil Commotion||N/A||Loss/damage to your vehicle caused by Theft or Fire|
|Damage to your vehicle due to accident||Personal Accident and Medical Benefits for driver and/or passengers||N/A||N/A|
|N/A||Liability to Passenger||N/A||N/A|
|N/A||Liability to third party caused by Passenger||N/A||N/A|