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Different Insurance Types

Insurance types

Insuring your car has been compulsory since the publication of the law on February 27, 1958. Today, you will find three different car insurance formulas to properly insure your car. 

It was therefore on February 27, 1958, that the law was enacted, making it compulsory to insure all motorized vehicles. Auto insurance provides protection against a road accident or any other disaster caused by a third party or by yourself. Natural disasters that cause damage to your vehicle can also be covered by your car insurance. Let’s take a look at the different formulas that insurance companies offer you today to best protect your vehicle, but also yourself.

 

Third-party insurance 

Third-party insurance is insurance that covers your vehicle as a minimum and is therefore the least expensive. However, although it is the weakest level, it does not prevent that it covers many things. Civil liability is included, it allows you, in particular, to cover yourself in the event of damage (bodily or material) caused to others by your vehicle.

The difference in coverage, however, leads to a significant loss of guarantee if we compare third-party insurance to all-risk insurance. If you are responsible for an accident, the damage you suffer is not covered by the insurance. You have to take this information into account, which can, in some cases, penalize you in terms of compensation.

car insurance

Extended Third Party Insurance 

Extended third-party insurance is halfway between third-party insurance and all-risk insurance. It includes civil liability and the basic guarantees common to most insurance companies, such as theft, glass breakage, fire and natural events.

You can, in most cases, add options to best compose the insurance for your vehicle. By opting for extended third-party insurance, you pay for guarantees that you really need. You are better covered than with third-party insurance, and you pay a lower price than by choosing all-risk insurance.

The glass breakage guarantee included in your insurance allows you, in particular, not to have to pay when changing the windshield or glass. Indeed, these are relatively expensive parts! If you have opted for this option, you will not have to pay for the replacement of your windshield, the car insurance takes care of everything.

All risk insurance 

All-risk insurance is the one that covers you best. However, please note that it is often much more expensive. This is explained by the very large number of guarantees included, higher compensation ceilings and the price of deductibles that are largely reduced.

In terms of coverage, all-risk insurance is the one that best protects you and your vehicle. The additional guarantees offered by your insurance promise greater compensation in the event of a claim. Thus, whether or not you are responsible for the loss, the insurance will cover the repairs and compensate you significantly compared to extended third-party insurance.

Very often, we find in all-risk insurance the following guarantees:

  • Damage all accidents,
  • Driver (which protects you in the event of bodily injury you suffer in an accident),
  • broken glass,
  • Theft-fire-forces of nature,
  • Natural disasters,
  • technological disasters,
  • Attacks,
  • Support,
  • The various options such as the loan of a vehicle, 0km troubleshooting, etc.

Also read: Finding the best insurance for a vintage car

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