Comprehensive, Third Party Fire and Theft or Third Party Only

What is Comprehensive, third party fire and theft (TPFT) or third party only (TPO) ? And how it will affect my premium? The above two question are one of the most commonly asked question.

Basically for third party only insurance only covers death, injuiries to third parties which may include passengers and also damage to third party’s property. By far this is the cheapest car insurance as it only covers the basic. Personally if you have readily available cash just in case you got to fix up you car then these would be a more economical option.

And as for third party fire and theft insurance is the extension of third party which additionally protects the insured’s own vehicle against loss or damage which may result from fire or theft. In my opinion this option is slightly better then TPO insurance and the difference in premium is only marginal.

The above mentioned insurance have the lowest premium but unless the vehicle is fully paid up, drivers can only opt to buy comprehensive insurance. Comprehensive car insurance have the widest coverage which includes what is mentioned for TPFT, it also covers damage to the vehicle that the insured owns. Apart from these, the insurance policy also have extra features and benefits like medical expenses and personal accident benefits.

Over the years, from what I see the difference between each insurance policy is very minimum and if possible always go for the comprehensive coverage as you will never know what will happen. Hope the above information clear some doubts. Feel free to post any helpful comments or any questions that you might have. I will be writing more information on my next post. Thank you.

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