Edition 1453
09 December 2017
Edition: 1453

Read this week's issue online exactly as it appears in print.

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Motor Insurance – Why have comprehensive cover?

by Advertiser, in Profiles · 03-08-2017 14:41:00 · 0 Comments

It is important to decide whether to arrange Comprehensive cover or Third Party Only when insuring your car and the first thought should be “What is the easiest and quickest way to get my car repaired if I am involved in an accident, whoever is at fault?”

Motor Insurance – Why have comprehensive cover?

The second question to ask yourself is “How can I get my car repaired if it is hit by someone
who disappears or is uninsured?”
The simple answer to both questions is to take a Comprehensive policy.
A brief summary of the cover on Comprehensive is to provide protection if you hit someone or something, your car is caught in a flood or a fire, your car is stolen, your car is damaged by malicious acts or vandalism or your car is damaged by an unknown or uninsured vehicle
Portuguese insurers only offer Third Party cover for a new motor policy for cars older than 8 years which may be alright for low value vehicles but there are many cars that still have high values after that age and Ibex can offer Comprehensive cover for cars up to 15 years old at inception.
The difference in premiums between Third Party Only and Comprehensive is relatively low so it can be a false economy to choose the lower level of cover. For example, if your car is worth €5,000 you will lose that entire value if it is written off and you only have Third Party cover but to increase the cover to comprehensive the premium would only be approximately €120 more per year.
If you are involved in an accident where you are hit by another vehicle and have just Third Party cover, even if it is clear that the other driver is at fault, you will be entirely in the hands of the other driver’s insurer. In these circumstances it can take several weeks for them to agree a repair, and no amount of pressure from your own insurer can force the other insurance company to proceed more quickly. If, however, you have Comprehensive cover you can claim on your own policy, have the repairs completed quickly and your insurer will pursue a claim against the Third Party Insurer.
So that is why Comprehensive is the answer!

For more information Tel: (+350) 200 77822, Email: philip.langley@ibexinsure.com or visit:
www.ibexinsure.com

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Edition 1453
09 December 2017
Edition: 1453

Read this week's issue online exactly as it appears in print.

Twitter