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There is an old insurance advertisement which says – ‘…between what’s good for you and what’s right for the insurance company is US (your broker)’.
Is 3rd party insurance really worth it? – in most cases, absolutely NO!
In the old days it was hard work to find the best policy for your vehicle; but in today’s internet age, with a little effort there are shopping sites like www.mibinsure.com where you can buy comprehensive insurance at almost the same cost as 3rd Party insurance. The trick is to let insurers compete for your business, not just renew your policy with the same insurer year after year.
Make no mistake about it, carrying comprehensive insurance can save you a lot of hassle in the event of an accident. If you bought comprehensive insurance, for example, and you had an accident, even if the other party refuses to admit liability, your insurance company pays your claim right away.
If, on the other hand you had purchased 3rd Party insurance, even if you are not at fault, you could wait months to get your claim settled if the other party insists you were at fault; it gets worse if they were not insured – you never get paid.
How do I get cheap comprehensive insurance?
Let us use an example – we will call you Peggy Ann. Let’s assume Peggy Ann has the following demographics and vehicle profile
|· Car||Honda Civic|
|· Age of car||7 years|
|· Age Drivers Licenses||5 years|
|· No Claim Discount – NCD||4 years|
|· Tracking Device||Yes|
She next goes to www.mibinsure.com clicked ‘get a quote’ and input the above profile information
Results of her internet search:
|Insurer||Comp – Quotes||3rd Party – Quotes|
For $1,000.00 more she could have purchased comprehensive coverage from insurer #1 instead of inferior 3rd party coverage from insurer # 10.
Also compare Peggy-Ann’s Comprehensive vs. 3rd Party benefits
Benefits Comprehensive 3rd Party
How was this possible?
In addition you can get up to (9) months to pay – and no long lines or waiting in an office for hours since all your transactions are done online.
Email feedback to:firstname.lastname@example.org