young woman passenger car

Car Insurance Quotes: Different Levels of Cover

Let’s face it, buying a new car can be thrilling, deciding on the type of insurance you need, not so much!

However, your car insurance quote is a necessity that we should all spend more time on. It can be the difference between being fully covered for a car accident versus being only partially covered, and slapped with a huge bill that you just can’t afford.

Accidents and other incidents can become hugely costly if you don’t have the right cover. What happens if your car gets stolen and you only have Third Party Property that covers other people’s vehicles? Or you only have CTP and you back into someone’s fancy Porsche in the supermarket parking lot? You may be burdened with a large repair bill or left without a vehicle which can have an enormously detrimental effect on your financial situation.

The first step in choosing the right car insurance, is understanding the different types of insurance that are available.

The different types of car insurance quotes are:

1. Compulsory Third Party (CTP)

What is CTP Insurance?

CTP is a mandatory type of insurance that protects you in the instance that you injure or kill someone in a car accident. It’s required for all vehicles being driven within Australia; however, conditions vary between states. It’s the cheapest and simplest type of insurance available, which can leave you open to financial risk if you damage someone else’s vehicle or property.

What does CTP cover?

CTP offers cover for any compensation claims made against you relating to injury/death caused in a car accident.

What doesn’t CTP cover?

CTP doesn’t cover damage to both yours or other’s vehicle or property, which means that you’re fully responsible for the cost of repairs.

2. Third Party Property

car parked on side of road

What is Third Party Property Insurance?

Third Party Property provides cover if you damage someone else’s property or vehicle (rather than covering injury to a person). It’s the simplest type of optional car insurance available, offering greater financial cover than CTP in the event of a car accident.

 

What does Third Party Property cover?

Third Party Property insures against the damage caused by your vehicle to other people’s property and/or vehicles. As well as any legal costs related to legal proceedings as a result of the damage you caused in the accident.

 

What doesn’t Third Party Property cover?

Third Party doesn’t cover the cost of repairs or replacement of your own vehicle, rather covering other people’s property and vehicles (conditions can vary between insurers).

3. Third Party, Fire and Theft

cars on road dusk

What is Third Party, Fire and Theft Insurance?

Third Party, Fire and Theft gives your vehicle greater protection in the event of an accident. It offers protection for someone else’s property and/or vehicle, as well as limited cover for your vehicle.

 

What does Third Party, Fire and Theft cover?

Third Party, Fire and Theft provides cover for damage to other’s property and/or vehicle, as well as coverage for your vehicle if it’s damaged or destroyed by fire or stolen.

 

What doesn’t Third Party, Fire and Theft cover?

Third Party, Fire and Theft doesn’t cover the cost of repairs to your vehicle resulting from an accident.

 

4. Comprehensive Car Insurance

cars on motorway

What is Comprehensive Car Insurance?

Comprehensive is the most complete area of car insurance quotes, and offers extensive cover for your vehicle, as well as for other people’s property and/or vehicles. While it’s perceived as the most expensive cover, it offers the greatest financial security, so it can work out to be the more affordable option. You may be charged a higher monthly premium than other types of insurance, but it protects you from any major financial burdens down the track.

What does Comprehensive Car Insurance cover?

Comprehensive Car Insurance covers all of the above inclusions plus accidental damage to your own vehicle, regardless of fault. Optional additional extras are also offered for greater cover, like providing a hire car after an accident, and windscreen and window glass excess removal.

What doesn’t Comprehensive Car Insurance cover?

While Comprehensive Car Insurance offers extensive protection, it doesn’t cover everything. It has limits which some drivers don’t think about until the issue arises. Exclusions can include things like covering tools of trade, cash, drivers not legally able to drive in Australia (being over the legal alcohol limit, not having a valid licence etc.) and so on.

What car insurance cover do you need? 

When you’re deciding what type of car insurance you should get, don’t just look at car insurance quotes and make a decision based on price. Look at the long-term costs that could potentially be involved if you aren’t covered for certain things. While comprehensive insurance may be more expensive on a monthly basis, think about how much you could save by avoiding all sorts of potential costs, like an expensive repair bill or worst-case scenario, having to replace your vehicle entirely. For a deeper look at what UbiCar offer, check out our car insurance quote details.

Contrary to popular belief, comprehensive insurance doesn’t always mean high monthly premiums; cheap comprehensive insurance is out there. Innovative car insurance companies like UbiCar are giving drivers the ability to save based on their driving behaviour. It’s a cheap comprehensive insurance offering that’s completely transforming the car insurance market. It’s using state-of-the-art technology to change how car insurance is offered, giving customers a tailored offering – good driving means lower premiums.

UbiCar believes so strongly in this model, that they offer comprehensive insurance only. They’ve intentionally excluded the other insurance types from their offering for two main reasons. Firstly, the other types of cover increase the financial risk for drivers, and secondly, their ground-breaking methods mean that they can offer premiums that work for every budget.

With UbiCar, there’s no guesswork, just cheap comprehensive insurance driven by actual data.

Get your car insurance quote now.

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