Motor Insurance
You can be a darn good driver who obeys all the traffic rules, signs and lights. But that isn’t a guarantee that a pedicab or motorcycle recklessly swerving will not bump you. It’s not fair, but that’s the reality. When you buy or lease a car, whether for private or commercial use, it’s important to protect that investment. Getting auto insurance gives that reassurance.
Comprehensive motorcar insurance is a type of automobile insurance that covers damage to your vehicle from causes other than a collision. It covers your vehicle if destroyed by a flood, spray-painted by a vandal, damaged by a break-in, crushed by a collapsing post, or (worst case scenario) stolen by thieves, and other unexpected causes. It’s crucial to always include acts of nature. Acts of nature protects your car for claims related to typhoon, floods, earthquake, volcanic eruption, lightning, fire and other convulsions of nature. Certain insurers also include coverage such as riots, strikes and civil commotion. The Voluntary Third Party Liability (VTPL) / Excess Bodily Injury answers for indemnities beyond the limits set forth under the CTPL coverage that protects the assured against liability of death or bodily injury to third party arising from an accident, caused by the insured vehicle. Third Party Property Damage (TPPD)
protects the assured against liability for damage caused by the insured vehicle to property belonging to a third party.
Due to depreciation, purchasing comprehensive coverage may not make sense financially if you drive an older vehicle that’s already lost a significant amount of value. By old, this means vehicles beyond 8 to 10 years old or so. A standard deductible is part of every claim, which is usually a fixed amount. Auto insurance pretty much takes care of everything, just make sure you are not driving without a valid license, not driving under the influence, not driving under an expired and/ or unsettled premium with your car insurance policy, or driving negligently.
Insure to be sure, and drive safe!