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- New & existing customers: Up to $100 worth of Shell fuel, free 24-hour breakdown assistance
- Lower premiums with a no-claim discount (NCD) if you qualify
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Third-party insurance is a basic form of car insurance for drivers. This type of policy provides cover when your car causes damage to someone else’s vehicle or property and also covers your legal liability up to a specific limit, eg $20 million. These policies sometimes include cover when your car is damaged, in a no-fault accident with an uninsured motorist.
Third party car insurance is available from a wide variety of respected insurance providers.
Third-party is defined as car insurance which covers you for damage to other people’s property, for example, their car or home, up to a certain limit, (eg $20 million). Third-party insurance only covers this and nothing else, except for some policies, which partially cover damage to your vehicle as well, even if you are at fault. Cover includes:
Although third party insurance is a pared down policy, some insurers have other benefits that provide added security, without raising costs to the level of a comprehensive policy. These additional benefits may include:
Comprehensive, third party fire & theft and third party are the three levels of car insurance on offer from most insurance providers.
When calculating third party insurance premiums, insurers consider questions like:
How do I choose the right car insurance policy for me? You need to consider a range of factors.
Some general exclusions apply to most third-party policies. These include if your car was:
The exact terms and conditions of your TP insurance depend on the details of the policy. The three terms to look out for are agreed value or market value; the amount of excess and whether or not it includes an uninsured motorist extension..
Car insurance policies are offered in either agreed value or market value form. If you take out a market value policy, your car is covered up to its market value at the time of a claim, subject to depreciation. The market value is determined by the make, model, age and condition of your vehicle.
Under an agreed value car insurance policy, you and your insurer agree upon the value of your car and lock in that value until the time comes to renew your cover.
The excess is the amount you need to pay as a contribution to the cost of your claim. As an example, if your excess is $250 and your claim is for $2,000, you will pay the first $250 of your claim and your insurer will cover the remaining $1,750. Insurers charge a basic excess, which is the minimum you need to contribute when you make a claim, as well as a voluntary excess (in return for a lower premium) and an age excess (if your policy features a young or inexperienced driver). Depending on your insurance provider and your circumstances, other excesses may also apply to your cover.
An uninsured motorist extension (UME) is an optional extra available with some third party car insurance. It covers damage to your vehicle up to a set limit (typically around $2,000-$4,000) of cover, in the event it’s damaged by an uninsured driver. You cannot be at fault for the accident, and you need to provide the uninsured driver’s name and address.
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