Third Party Car Insurance : Know the advantages of choosing this modality and in which cases you will be covered. Nowadays, most Spaniards have third-party car insurance, since it offers them the best relationship between price and level of coverages.
What is Third Party Car Insurance?
There are more than 30 insurers in the market and each one has its policy to third parties. Every year companies change their rates and launch aggressive promotions to attract new customers. The Acierto.com insurance comparator allows you to compare all prices and coverages available in just 3 minutes , so you can easily find the cheapest car insurance for third parties, with the level of coverages you need.
What Kind of Third Party Car Insurance Exist? What Coverages Do They Include?
Not all car insurance to third parties are the same. Even with the same type of policy we can find differences between what two different companies offer us. But above all, we must be clear about the options available in the third-party car insurance market. Thus, we can hire a basic third-party car insurance (covering the minimum guarantees), a third-party insurance with moons or extended third-party insurance, the most complete alternative if it is not economically viable for us to subscribe to full-risk insurance.
The basic third parties are limited to offering the minimum coverage of Compulsory Civil Liability required by Law . This policy allows us to circulate in compliance with the law, but limits the protection of the vehicle against multiple risks such as, for example, the breaking of a moon or the theft of the vehicle. It is especially important to validate that the chosen policy includes roadside assistance in the price or that, otherwise, it allows the option of being hired assuming a small incremental cost.
With a third-party car insurance with moons, the insurer covers labor and replacement costs in case of windshield breakage, rear window and side windows. This type of insurance does not vary much from one company to another; The only difference lies in the extension (or not) of the guarantee to the sunroof, so it is advisable to make sure that it is covered if we have a vehicle with these characteristics.
Without reaching the level of protection of an all-risk insurance -or assuming the high premium it supposes-, extended third-party insurance guarantees peace of mind in case of theft or fire: the insurer covers the material damages derived from a theft or attempted theft and fire in the vehicle. In addition, they can include other additional coverages, either standard or optional: replacement vehicle, roadside assistance or fines are the most frequent; But some companies add value to their policy by providing a series of extra services to build customer loyalty.
Not all car insurance to third parties are the same. Even with the same type of policy we can find differences between what two different companies offer us.
Thus, the rapid attention, the management of incidents or the resolution of procedures on behalf of the insured (from passing the ITV to pick up the vehicle to take it to the workshop) are details that influence our overall satisfaction with the policy and our sense of tranquility before the certainty of the company responds to certain situations and facilitates us day by day as drivers. In some cases, this peace of mind is all the more extendable the more we increase the willingness to take on the premium, since the coverages we need are only offered as an option. Hence the importance of comparing car insurance: we can hire insurance that is limited to meet the minimum guarantees that define it or another that for the same price gives us much more.
What Car Insurance Do I Need?
Having all the protection options clear, the fundamental thing is to understand what kind of insurance our vehicle needs based on its age, its use or its care. If we open a car, it is usual to opt for a comprehensive insurance, primarily to cover any damage taking into account that repairs and parts are more expensive than in a used car – especially if it is high-end – and benefit from the possibility of obtaining its value again in case of loss during the first two years in most policies.
In the case of an old vehicle, it does not compensate to pay what the annual premium of an all risk supposes since at most only they will cover us as a maximum their market value, that is, the sale value in the market. It is not profitable to assume a high cost for a vehicle whose value has already been depreciated and for which we can not obtain enough to acquire another car.
In addition to the years of the car, we must take into account our use . This will help us determine if we really need to be protected under any circumstance. The more we use it, the more level of protection it would be advisable to have.
In the case of an old vehicle, it does not compensate to pay what the annual premium of an all risk supposes, since, as a maximum we will cover its venal value, that is to say, that of sale in the market.
Optional Third Party Car Insurance Coverage
If we seek to save, it is clear that the price will weigh the most in the balance when choosing car insurance. But we can not simply stay with the most adjusted budget and sign with our eyes closed so that we get as cheap as possible. A good choice in the insurance of your car is one that gives you what you need at the best price: economic insurance is useless if it does not provide the coverage we require, based on the type of car we drive, our profile as drivers or the hours we spend behind the wheel. Not all drivers need the same level of protection, so the basic question we must ask ourselves before taking out insurance is: what coverages are the most important and which ones do I really need? These are some of the fundamental ones:
Do you offer travel assistance? And if so, from what kilometer?
With this coverage we have the peace of mind of being assisted in the event of a loss or damage to the vehicle that prevents us from continuing our trip, providing us with the repair service on site, if possible, or towing to the nearest workshop. He also assists us in case of a medical emergency. Now, it must be pointed out that these covers always have their limits:in some companies assistance is provided from kilometer 0 (for example, our car is parked near our home and we can not start it), but others establish a distance that usually starts from kilometer 15 or 25. Some of them guarantee an answer throughout Europe, while others limit their scope of action to national territory. Another aspect to take into account is to check if this assistance covers any case, including cases of puncture, loss of keys or lack of fuel.
Does it include replacement car? Am I willing to pay more for this coverage?
It is another of the coverages that may or may not include car insurance for third parties and whose need clearly depends on the use of the vehicle. It guarantees that we will always have a vehicle, even in the event of a breakdown or loss, while our car is being repaired. For some companies, having a replacement vehicle is an extra that has to be paid. Whether or not we are willing to assume that cost will depend on the answer to this question: can I do without, if necessary, my car? If we use it to work (for example, a commercial or self-employed person) or for daily commuting that we can not assume otherwise (attending work, taking children to school), it is best to hire this guarantee. If we hardly use it and for the day to day, public transport serves us,
What capital does the driver’s insurance cover?
If we want to add driver insurance to our policy, we must know that there are notable differences in the amount offered by the different companies. All of us will be guaranteed with this coverage that we can obtain compensation in case of permanent disability or our family in case of death. But not the same amount: the most basic ones limit it to € 6,000 in case of a disability that incapacitates us while the more complete ones can offer us more than € 120,000. The same applies to the amounts for death or extra services that can be provided, such as transfer in case of death or funeral service management. In any case, many companies give us the possibility to choose how much we want to receive, assuming the corresponding cost in the annual premium.
Does it include healthcare in the event of an accident?
If we contract this coverage, the company offers us certain guarantees in case of needing medical attention during a trip, which will vary according to the completeness of the policy: from the ambulance transfer or the shipment of medicines to the accommodation expenses derived from the hospitalization of the driver or drivers included in the insurance.
Does it include legal defense?
The legal defense coverage allows us to have the economic support of the company in case of having to face a lawsuit derived from an accident. As in the rest of coverages, the difference marks the amount that they offer us to cover the expenses of lawyers, attorneys and costs. It is also customary for the company to increase this amount in case they provide us with legal advice and assistance, while limiting it in case we decide to hire a lawyer of our choice.
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