Property Insurance
7. Vehicle Insurance Policies
Authors: Staff Legal Eagle
Firm / Chambers:
Last updated: 10 Sep 2015
- Home insurance and contents insurance policies do not generally cover mobile belongings including:
- motorised vehicles – cars, motorbikes or caravans;
- boats; or
- other mobile structures.
- You may therefore need to take out additional insurance to cover personal property that is not insured under the more common insurance policies.
- Apart from the Compulsory Third Party (CTP) insurance which covers injuries caused to other people in an accident, there are several types of insurances that you may take out to protect your property and that of others.
- Third party insurance covers loss or damage that you have caused to another person’s vehicle or property.
- Some insurers may offer a combined third party property insurance with a fire and theft policy. This protects you against having to pay for damage you cause to another person’s vehicle or property and also compensates you if your vehicle is stolen or burnt.
- Comprehensive insurance covers damage to others but also covers the cost of repairs or replacement of your vehicle regardless of fault.
- For more information about motor vehicle insurance please see our Vehicle and Motor Accidents topic.
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