Hiring a vehicle policy is a smart and responsible way to keep your vehicle and assets insured. An insurance policy is a contract between the insurance company and the insured, where the different clauses that will govern it are established.

The objective of contracting a vehicle policy is to be protected from any damage that the vehicle may suffer or may cause to third parties.

Types of vehicle insurance policies

There are different types of vehicle insurance policies, which vary according to the scope of coverage, price and conditions. Some of the most common are:

Third Party Insurance Policy: It is the most basic and is the minimum coverage required by law. This type of coverage covers material and personal damages caused to third parties with the insured vehicle, but not those suffered by the vehicle itself or its occupants.

Third party insurance comprehensive coverage: In addition to the above coverage, it includes some additional coverage. These cover accidents such as theft, fire or breakage of some parts of the insured vehicle, according to the stipulated clauses.

All-risk insurance policy: it has broad coverage, and covers both damage to third parties and damage to the insured vehicle and its occupants. Although it is one of the most expensive policies, it allows the vehicle to be fully insured.

This type of coverage has special optional benefits such as roadside assistance, legal defense, parts replacement and repairs.

Road assistance policy: this coverage offers support in the event of a road accident or vehicle damage. It offers everything from vehicle towing to assistance, review and repairs.

When hiring a vehicle policy, it is advisable to compare the offers of different insurers and choose the one that best suits the needs and budget of each one. It is also important to carefully read the different clauses and periodically review the policy.