You need to insure your car, you do not want to pay for what you are not going to use, but neither do you give up or avoid services that you will soon miss. Knowing the types of insurance that exist and what each of them entails is the first step in choosing the perfect insurance for your car.
1. Third party insurance
This first type of policy is the simplest and most basic, as its name indicates. It is the minimum insurance that by law every car must have in order to circulate. It is known as third party insurance or basic insurance.
All third party insurance must include the civil liability insurance required to circulate. This type of coverage covers material and personal damages that the insured car causes to third parties. The insured car and the driver himself are outside the protection of compulsory insurance.
This basic insurance usually includes an extension of civil liability known as supplementary civil liability that economically expands the insured’s liability insurance.
Civil liability for trailers and caravans, and for objects transported in the vehicle, is also usually included in third party insurance. Along with legal defense, damage claims and travel assistance.
Driver insurance also begins to be incorporated into third-party policies, but this is not always the case, so it is important that you take this detail into account when comparing and choosing your car insurance.
The claim to the Insurance Compensation Consortium for damage to the insured vehicle and / or personal, as a result of certain natural catastrophes, terrorism or actions in peacetime of the Armed Forces and the State Security Corps, completes the coverage of which enjoyed with third party insurance.
2. Extended third party insurance
In accordance with the needs and demands of current drivers, insurance companies have increased their offer of insurance to third parties by offering a somewhat less basic type of policies, but not as comprehensive as those that are called all risk.
In this group of extended or complete third party car insurance policies, you find a wide set of coverages that you can choose independently or in package format, according to the different companies. The coverage of the total or partial breakage of windows or windshields, fire insurance or the repair of damages to the car, if it runs over any animal, for example; are the most common in extended third-party insurance.
The most complete third-party policies offer the driver more specific services and assistance such as the civil liability of the policyholder and the declared driver of a cyclist, the civil liability of the minor child driving without a license, the defense in traffic fines, allowance for deprivation of permission driving, theft of the vehicle, cleaning the vehicle for the transfer of the injured or the interest and expenses of the loan to repair the vehicle.
This type of third-party insurance with extended coverage is very interesting so that the driver can complete his protection and that of his vehicle according to its use, priorities and needs, without having to give up anything essential, even if you choose a third-party policy.
3. All risk
Car insurance to all risk offer a complete range of coverage, assistance and services for the driver and his vehicle. They incorporate, of course, the obligatory ones such as civil liability insurance, but also all those that complete third-party policies such as broken windows or theft of the vehicle.
The full-risk policies include coverage that does cover both the driver and the insured car itself in the event of being involved in an accident regardless of whether or not it is the cause; Likewise, even if there are no third parties, as in the case of blows or damage during a parking lot, the fully insured car is protected in these circumstances as well.
Practical and commonly used services by drivers, such as the replacement vehicle or the defense of traffic fines, are also facilities enjoyed by full-risk car insurance holders.
There are two basic modalities within comprehensive insurance. You can find full risk policies with or without franchise. Duty-free insurance may be cheaper in principle, but it has the disadvantage that it only covers part of the expenses related to the claim. Whenever the repair or assistance costs are less than the amount set -prime- in the contract – for example 300 euros- it is the insurance holder who has to take care of the invoices.
Full risk insurance without excess is the most complete and effective that can be contracted to protect a vehicle, the responsibility for the protection of the insured car falls exclusively and integrates on the insurance company. The maximum coverage for any eventuality or possibility is included in this type of insurance that responds to all the needs and demands of drivers regardless of their circumstances.
Insurance companies market to complete their offer of car insurance, exclusive policies and with different coverage for specific drivers such as young drivers, experienced drivers, professional drivers or green cars. This type of contract contains cheaper premiums or advantages for certain clients, in addition to exclusive bonuses or covers of great interest.
Car insurance can therefore be fully comprehensive or third-party, but keep in mind that within each of these two options there are a large number of details that can change from one company to another. On the other hand, the insured must pay attention to the economic amounts that are insured – spending limits – in each of the coverages and that can make an important difference in the final price, but also a very different degree of protection.