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Different Types Of Auto Insurance
By Mansi Gupta, Mon Jan 2nd

Nowadays auto insurance is the ideal way to ensure a good life for yourself and your expensive vehicle. Auto insurance protects the huge amount of money spent on your automobile. But on the same hand, auto insurance is also quite expensive. However, there are different types of auto insurance policies available today. It is at an individual's discretion which policy he can afford to adopt.

1.Fully Comprehensive Auto Insurance Policies - though this policy is the most expensive, it is the most widely adopted types of auto insurance. This is so because the insurance provides compensation (or covers) all sorts of cases such as theft, accident, storm damage, etc. If an accident occurs where you were not at fault while the other driver was and did not disclose his and his insurance details, you ought not to worry. For being a policyholder of the fully comprehensive program, you can register an insurance claim against your insurance company. But while taking this policy, one essential thing should be borne in mind. There are a few auto insurance companies that do not insure your vehicle 100% of its value but only at 80% or so. Even though many companies defend their policy as a measure to prevent themselves from fraud cases etc., try your best to find the agency that insures your vehicle 100%.

2.Third Party, Fire and Theft - this type of insurance is basically meant for those car owners who have had finished their car loans but still admire, cherish their car and have great sentiments attached to it. This policy is somewhat akin to the fully comprehensive one but not identical to it. For like the latter, the former covers cases of theft, accident, fire etc. but in case of an accident you can receive compensation only when you were at fault and had hit another car. So if any other carhits yours or you by mistake bang it up in the garage, the insurance company will not come to your financial aid.

3.Third Party Insurance - it is this insurance that is the cheapest of all and covers only cases of accident where you were at fault and hit a third party. The insurance company is not to be contacted in case of any other mishappenings with your vehicle. This insurance policy is generally preferred by thos ewho own an old and less pricey car or any other vehicle.

4.Specialized Car Insurance - is basically for cars categorized as classic, those that are 25 years old or older. These cars are insured as classic and so accordingly they have their requirements and services. The classic car insurancee policy can be said to be as good as the comprehensive one, but the only drawback associated with it is that it limits the policy taker to a limited number of road miles he can drive in any given year.

Ultimately it is at the discretion of every individual which policy he desires to take. It is advisable to sort out one's requirements and budget and also make a survey of the auto insurance policies in the market before actually purchasing a policy.