Hiring liability insurance is mandatory for the owners of any motor vehicle. However, the liability insurance only covers the claims of a third party in case of loss up to a limit, provided that it has occurred due to the insured’s fault. These are the basic insurance calls to third parties.
Although the ideal would be to have the car insured at all risks, the cost of these policies is usually very high in some cases, and many car owners are not interested, unless it is a new car. In any case, there are car insurances that, without being at all risk, offer additional insurance coverage to basic third parties that are very interesting, and recommendable. These hedges are usually included in the so-called Extended Third Party Insurance. They are the following:
# 1 – Voluntary civil liability
Compulsory liability coverage covers up to a maximum amount indicated by law that may be insufficient in many cases. That means that the insurance is only going to take care of paying up to that limit. By hiring a complementary amount you can make sure that the insurance will cover much more. This amount depends on each insurance, but can amount up to 50 million euros.
# 2 – Covers for the driver and companions
These covers cover the expenses derived from healthcare and pharmaceuticals after and an accident. They also include compensation for death or disability. It is important to review the conditions and limitations of these coverages to ensure they offer sufficient guarantees.
# 3 – Coverage of Minor perils
This coverage has a very low cost and can save us a lot of money. This coverage deals with the repair of the windshield, the side windows and the rear window, as well as the sunroof – if it came standard with the car – whether it is a small hole or a total impact breakage. Includes materials and labor.
# 4 – Travel assistance
This coverage guarantees you to have assistance if you get stuck anywhere due to a breakdown. In addition to dealing with the vehicle, the company will take care of transporting the driver and the occupants to their home or destination. Having to process this without insurance, besides being very tedious, it is very expensive, that’s why it is considered an essential coverage.
This coverage is usually included in most of the Basic Third Party Insurance, but it is important to review it, just in case, especially if you are going to buy a very cheap insurance advertised in an offer. It is also important to check from what kilometer regarding the domicile declared in the policy this service is provided by the company. Ideally, it should be from kilometer zero, as well as the limitations of the service in specific cases.
Some insurances may offer a replacement vehicle in this coverage while the car is repaired in a complementary manner.
# 5 – Coverage against theft
The theft coverage is highly recommended for new cars or high-end cars, although anyone can steal the car or open it to steal what is inside. In any case, it is important to review the conditions of this coverage well since, although it does not usually imply a significant increase in the policy, it can have many limitations. In this sense, it is important to check, if it is a new vehicle, if the coverage covers the new value or the sale value or if it includes the coverage of accessories that are not standard.
# 6 – Fire protection
Hiring this coverage is very convenient, since a fire is a risk to which any vehicle is exposed. The cost of this coverage is very low compared to what it would be to assume the fire of a car without there being someone to be held responsible for it. It is important to take into account the limitations that this coverage may have and review it to obtain the best conditions.