What kind of insurance is optional?
Optional Coverage The insurer will pay for costs related to vehicle damage in an accident, regardless of who was at fault. It can apply even to accidents in which your car was the only vehicle involved. Meanwhile, comprehensive coverage applies to any type of harm or loss that did not result from an accident.
What types of insurance is mandatory?
Compulsory insurance is insurance that must be legally owned to do an activity, such as auto insurance and driving a car. Other types of compulsory insurance include workers’ compensation and professional liability insurance.
How many types of insurance coverages are there?
Six common car insurance coverage options are: auto liability coverage, uninsured and underinsured motorist coverage, comprehensive coverage, collision coverage, medical payments coverage and personal injury protection. Depending on where you live, some of these coverages are mandatory and some are optional.
Is comprehensive insurance full coverage?
Comprehensive – or fully comprehensive as it’s sometimes known – offers the highest level of protection. It includes all the cover you’d get with a third-party fire and theft policy, but could also protect you as a driver and can pay out for damage you cause to your own car.
What are the three types of compulsory insurance?
The three main types of compulsory insurance are the Unemployment Insurance Fund, Compensation for Occupational Injuries and Diseases which is amended as Workers’ Compensation and the Road Accident Fund.
Can I drive any car if I am fully comprehensive?
The car you want to drive must be covered by an existing insurance policy and you must have permission to drive it. Driving other cars cover is usually only available on a comprehensive car insurance policy, so if you have third party (or third party, fire & theft) cover, you won’t be covered to drive any other cars.