This is a type of insurance provided to motor vehicle. There are three type of motor vehicle insurance namely:
- 3rd party only
- Third party fire & theft
3rd party only
- This an act under traffic act which states that any motor vehicle on the road should have at least a 3rd party insurance cover.
- It covers liabilities arising from a 3rd party’s injury and property damages.
3rd party fire and theft
- This covers the third party liabilities fire and theft. This is in case the vehicle is damaged as a result of fire or theft
- This policy cover the motor vehicle against own damage ,3rd party only and 3rd party fire and theft
- To quote on this we need the vehicles value.