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Different Categories for The Insurance Policies

There are various categories in which the insurance policies are categorized but the categories which are used generally are just two. The foremost category for the car insurance is the ‘third party only’ cover.

This is the most common policy type ands also this is the one which is required as per the legal requirements for the car owners. This type of insurance make the owner feels comfortable and also keeps them on the safer side. This type of policies are referred to those who have the small segment cars and also have a very minimal use of car

The reason why these type of policies are not referred to those who have mid or the top segment cars is because this is the cover in which the owner of the car do not get any direct benefits. For example if the insured car hits the other car and the total fault is of the insured car then the  claim will be provided only to the other car and also the medical allowance for the injured people will also be given to the other car’s  owner. The name of the cover itself states this; liability coverage means the shield over the liabilities. This is why this cover is referred to those who use their cars very less like for some important meets and parties etc.

The cover which is advised to the other two segment car’s owners is the third party theft and fire coverage. This is similar to the other plan but the point where it cerates the difference is that through this the owner of the car also gets the benefit such as car repairing chargesFree Web Content, cashless car repairing etc. if the car is damaged in the fire and if the car has been stolen then the owner get the money equals to the approximate current value of the car. This is the insurance type which is recommended to the people who owns the expensive cars and use their cars very often such as for the offices etc.

This is also advised to save money and to avoid uncertainties the car owners should buy the third party theft and fire because the difference in the charges of both of these policies is not so high and if one gets a higher benefit by paying a little more amount then what could be the better deal that this.

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