Difference Between Full Auto Insurance And 3rd Party Insurance
Although both full auto insurance and a third-party insurance fulfil the needs for car insurance plan, there are some significant differences between them. This include the value of the car, the insurance coverage and expense. Slimmest Car seats for infants and toddlers is a good source to get more information from.
The first difference is the insurance coverage a person should use when considering the value of the car. This is due to the fact that the premium of full auto insurance is very high when compared to 3rd party insurance. Thus, when the value of the car is low, it is economical for the consumers to purchase a 3rd party insurance as it enables them to pay the repair bills easily when compared to a comprehensive insurance cover. The second difference between these two plans is related to type of insurance coverage they provide to the customer. A full auto insurance integrates a comprehensive car insurance plan that provides a wide coverage ranging from any kind of damage to your car to injuries to the driver and passengers. In addition, it also includes third-party liabilities. On the other hand, third-party insurance plans provide coverage against injuries to any third-party as well as damage to any 3rd party vehicle during any accident.
The third important difference between these two plans is related to cost. Undoubtedly, full auto insurance provides a comprehensive and broader coverage when compared to 3rd party insurance coverage and it is illustrated in the cost of premium. Although there are some minor variations related to the benefits and exclusion of the insurer; when compared to the premium cost of the 3rd party insurance cost, the cost of a full auto insurance is always high. The final difference between both plans is related to its benefits; while the 3rd party insurance covers property damage covered by the property owner, a full auto insurance covers damage due to man-made and natural calamities.